June 18, 2012

Parliament on Friday has approved the supplementary agreement between the government of Ghana and the International Fund for Agricultural Development(IFAD) of an amount of US$9million for the Rural and Agricultural finance programme.

The purpose of the facility is to support the implementation of the Rural and Agricultural finance programme in providing improved and sustainable livelihood to the rural folks particularly women and vulnerable groups by improving their access to sustainable financial services through enhanced outreach, sustainability and linkages.

To achieve their purpose, the facility will be used to build the capacity of ARB Apex Bank, Rural and Community banks and Rural Micro finance institutions.

Benefits of the programme will accrue directly or indirectly to 125 rural and community banks, 20 other micro finance institutions and at least 30 clients to be trained per annum by the rural and community bank in the micro finance roll out programme.

In 10 years, it is expected that about 62,000 small holder farmers will be actively borrowing for production of value chain commodities supported by government programme/agencies.

Kwadwo Anim/Ghanamps.gov.gh