The Minister of Finance, Dr Kwabena Duffuor, on Friday inaugurated an eight-member board of directors of the Agricultural Development Bank (ADB), and tasked members to fashion out appropriate credit schemes to support the agriculture agenda of government.
He said government recognised the need to create a favourable policy environment to deal with the management of risks associated with financing in the agricultural sector, and called on members to reduce such risks.
Dr Duffuor called on the new board to actively engage with government to design and implement policies that would mitigate those risks.
He expressed government's commitment towards reviewing the Export Development and Investment Fund (EDIF) Act, to include fund for agricultural investment and infrastructure and to provide additional resources in order to support commercial agriculture.
Alhaji Ibrahim Adam, Chairman of the Board, on behalf of members, expressed gratitude to President John Evans Atta Mills for the appointment and pledged they would not abuse the power vested in them.
"We will mobilize and harmonise our experiences for the betterment of the agricultural sector in particular and the country in general, even though we are coming from various professional backgrounds," Alhaji Adam said.
Dr Duffuor administered the oath of secrecy and the official oath on behalf of the president.
Other members of the board Ms. Nancy Ampofo, Dr. Samuel Dapaah, and Dr. Johnson Asiamah.
The rest are Mr Paul Ofori Agyiri, Acting Deputy Managing Director of the Bank, Dr Clemence Addeah, Major M. S. Tara (Rtd) and Mr Yaw Opoku Atuahene, Managing Director of the bank.