{"id":665104,"date":"2019-07-26T16:54:55","date_gmt":"2019-07-26T16:54:55","guid":{"rendered":" <br><div>\n\t\t\n<p><strong>Dr. Owusu Afriyie Akoto \u2013 Minister\nfor Food and Agriculture<\/strong><\/p>\n\n\n\n<p>The\ngovernment, through the ministry of agriculture, is in the process of\nintroducing a new credit facility to increase access to funds for farmers.<\/p"},"modified":"2019-07-26T16:54:55","modified_gmt":"2019-07-26T16:54:55","slug":"govt-improves-credit-for-farmers","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/07\/26\/govt-improves-credit-for-farmers\/","title":{"rendered":"Gov\u2019t Improves Credit For Farmers"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Dr. Owusu Afriyie Akoto \u2013 Minister<br \/>\nfor Food and Agriculture<\/strong><\/p>\n<p>The<br \/>\ngovernment, through the ministry of agriculture, is in the process of<br \/>\nintroducing a new credit facility to increase access to funds for farmers.<\/p>\n<p>The<br \/>\nGhana Based Risk Sharing Agriculture Lending Scheme (GIRSAL), a creation of the<br \/>\ncentral bank, would encourage commercial banks to lend more to the agricultural<br \/>\nsector.<\/p>\n<p>\u201cGIRSAL<br \/>\nwill be a de-risking instrument that provides bank guarantees, insurance,<br \/>\nbusiness advisory services and incentives to banks so as to increase lending to<br \/>\nagriculture. Effectively, it is expected to ease the problem of agri-financing<br \/>\nwhich has been a major bane and draw back to the development of agriculture,\u201d Minister<br \/>\nfor Food and Agriculture Dr. Afriyie Akoto said.<\/p>\n<p>He<br \/>\nindicated that agriculture credit had almost collapsed, citing the sharp<br \/>\ndecline in funds allocated to the agricultural sector in recent years.<\/p>\n<p>\u201cIn<br \/>\nthe past, about 18 per cent of credit given by commercial banks went into<br \/>\nagriculture that has collapsed to 4 per cent in the past three or four years. The<br \/>\nidea, therefore, is to bring it back to a certain reasonable level,\u201d he stressed.<\/p>\n<p>He<br \/>\nwas speaking at the 3<sup>rd<\/sup> Ghana Association of Agricultural Economists<br \/>\n(GAAE) conference themed: \u201cSustainable Agriculture for National Development: Finance,<br \/>\nMarkets and Job Creation\u201d, which was held in Accra.<\/p>\n<p>He<br \/>\nsaid among the interventions government was putting in place to shore up<br \/>\nrevenue from the agricultural sector is the creation of the Ghana Commodity<br \/>\nExchange which provides a trading floor for commodities. <\/p>\n<p>\u201cClosely<br \/>\naligned to this is the construction of 80 warehouses to increase the existing<br \/>\nstorage capacity of 34,000MT to 80,000MT by 2020 to address post harvest losses<br \/>\nand potential loss of farming income,\u201d he added.<\/p>\n<p>Dr.<br \/>\nAkoto further noted that under the government\u2019s transformation agenda for<br \/>\nagriculture, extension services are receiving massive attention through<br \/>\ne-agriculture, recruitment and the provision of logistics for extension<br \/>\nofficers. <\/p>\n<p>Also,<br \/>\nhe stated that the colleges of agriculture, with support from Canada and<br \/>\ncollaboration with the University of Cape Coast, are undergoing massive<br \/>\nmodernization and transformation through content development and<br \/>\ninfrastructural renewal. <\/p>\n<p>He said the objective is to fully equip students with modern skills and capacity to support the growth of agriculture and promote entrepreneurship.\u00a0 <\/p>\n<p><strong>By Jamila Akweley Okertchiri &amp; Nadia Nimako<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dr. Owusu Afriyie Akoto \u2013 Minister for Food and Agriculture The government, through the ministry of agriculture, is in the process of introducing a new credit facility to increase access to funds for farmers. The Ghana Based Risk Sharing Agriculture Lending Scheme (GIRSAL), a creation of the central bank, would encourage commercial banks to lend [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":665105,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-665104","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gov\u2019t Improves Credit For Farmers - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/07\/26\/govt-improves-credit-for-farmers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Gov\u2019t Improves Credit For Farmers - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr. Owusu Afriyie Akoto \u2013 Minister for Food and Agriculture The government, through the ministry of agriculture, is in the process of introducing a new credit facility to increase access to funds for farmers. 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