Posted: Monday 18th August 2014 at 10:36 am

EDAIF approves Ghȼ57.1 million to 28 small-holder cooperatives, companies and institutions

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The Board of the Export Trade, Agricultural and Industrial Development Fund, (EDAIF) in June and July this year, approved Ghȼ57.1 million in grants and credit in favor of twenty-eight beneficiaries.

The beneficiaries of the above facility comprise of fifteen (15) small-holder cooperatives and associations, eight (8) companies and five (5) public institutions.

A grant facility of Ghȼ48.5 million was approved in support of government’s initiatives and interventions in different sectors of the economy. Major among these was an approval of GHC21.7 million towards expanding local rice production.

A release singed by Chief Executive Officer of the Fund, Dr. Barfour Osei indicated that “a huge step was taken towards large scale shea butter cultivation in Northern Ghana with an approval of Ghȼ3.43 million”.

“Other activities that received approval are: Ghȼ6.37 million to support the establishment of the Ghana Commodities Exchange; Ghȼ2.88 for the cultivation of kenaf plant by small holders to serve as raw material for the manufacture of jute sack in Ghana. Approval was also given for honey production, oil palm processing, fish production and production of organic fertilizer.

“EDAIF support for small-holder associations and cooperatives demonstrates government’s commitment to enhancing the productive capacity of the small and medium scale enterprises”.

According to the release, two firms would receive a total of Ghȼ8.4 million in loans to support the processing of oil palm and the manufacture of footwear.

“The Board and Management of EDAIF wish to encourage small-holder Ghanaian cooperatives, associations, businesses to contact the organization for further information”.

The release encouraged potential applicants to visit www.edaifgh.org for more information and to download relevant application forms and guidelines. 

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