President Nana Addo Dankwa Akufo-Addo says a framework is being developed to provide a 50 percent interest rate subsidy on loans given to agribusinesses by financial institutions.
Speaking at this year’s farmers’ day celebration, the President explained that this policy is to provide support and encourage persons in the agric sector to scale up their production at the local level.
The President added that poultry farmers will also receive such support.
“This will be expanded to qualified farmers to expand poultry production operation for hatcheries and processing plants,” President Akufo-Addo said.
“The target is to support the farmers with affordable financing to produce 5 million broiler birds, equivalent to 10,000 metric tonnes of meat, by the end of this month of December,” he added.
At the Farmers’ Day celebration, President Akufo-Addo called for the support of all agriculture stakeholders, including farmers and fisherfolk, value chain actors, entrepreneurs, financial institutions, policymakers, and researchers.
This support is to be directed towards the realisation of the Government’s agenda of transformation of the agricultural sector and consolidation of our food systems.
This also ties into Ghana’s vision of moving beyond aid, the President also said.
“I remain confident that Ghana can leverage her food systems to achieve the vision of a Ghana Beyond Aid,” he said.
“Government will continue to create the enabling environment, and put in place the necessary policies and programmes to strengthen the linkages between the Programme for Planting for Food and Jobs, which has been one of the great successes of my government, and the rural industrialisation agenda.”