The Bank of Ghana, in partnership with the Ministries of Finance, Food and Agriculture is to launch a 400 million Dollar Agricultural Financing Programme, (AFP), before the end of this year.
The programme christened Ghana Incentives-based Risk Sharing System for Agric Lending, (GIRSAL), will see the Central bank work through selected commercial and rural as well as community banks to disburse credit facilities to farmers towards increased production and contribution of the sector to the Gross Domestic Product, GDP.
The Head of GIRSAL at the Bank of Ghana, Thomas Essel, made this known in Kumasi at the launch of the Rebranding and Strategy Document of the National Farmers and Fishermen Award Winners Association, Ghana.
Mr. Essel, announced that the Central Bank will very soon launch a programme known as the Ghana Incentives-based Risk Sharing System for Agric Lending, GIRSAL, that will channel funds through some financial institutions for disbursement to farmers and members of the agric value chain as incentives to boost the contribution of the sector to the economy.
GIRSAL, Mr. Essel disclosed, will also include capacity building for both beneficiary farmers and participating financial institutions to ensure that, the intended ultimate goal is achieved.
Mr. Essel also disclosed, that this will include capacity building for both beneficiary farmers and participating financial institutions to ensure that, the intended ultimate goal is achieved.
The National Chairman of NFFAWAG, Davies Narh Korboe, explained that the rebranding and Strategy document is to reposition the Association to go beyond advocacy to become very influential in the formulation of policies that affect the interest of farmers in the country.
The Ashanti Regional Minister, Simon Osei Mensah, described agriculture as the most important factor that drives every modern economy and industrialization and added that farming is never the preserve for the aged nor school drop outs. Farmers should therefore be proud of their business and improve on their production levels.
The rebranding also involves a modification of the old emblem of the Association in tandem with the changing times of agricultural practices.
Formed in 1998, the National Farmers and Fishermen Award Winners Association, Ghana, NFFAWAG, has a membership of 24 thousand, made up of farmers and fishermen who have won state awards in the respective farming categories with a national secretariat and Regional Executives across the country.
The Rebranding and Strategy Document focuses on the youth and women empowerment, improving members’ access to funding for their businesses, developing members’ skills towards agric modernization among other objectives.
The official launch of the Document was heavily patronized by farmers from almost all parts of the country to share and own the policy.
The rebranding also involves a modification of the old emblem of the Association in tandem with the changing times of agricultural practices.
