The Minister of Local Government and Rural Development, Mr Joseph Yieleh-Chireh on Wednesday urged board members of the Social Investment Fund (SIF) to adopt proactive measures to reduce poverty in the country.
Inaugurating an 11-member board of the Fund in Accra, Mr Yieleh-Chireh reminded the members that the Fund was established in 1998 to contribute to reduction in rural and urban poverty on sustainable basis and ensure the
equitable distribution of resources to the poor.
The SIF has been providing targeted assistance to the poor and deprived communities in Ghana in partnership with Community Based Organisations, Local Government, Civil Society, and Donors using gender-sensitive, flexible, participatory, demand-driven and sustainable process.
Currently, SIF is implementing two poverty reduction projects, the Second Ghana Poverty Reduction Project (GPRP) called 'Poverty II' financed by OPEC Fund for international Development and the Urban Poverty Reduction
Project financed by the Africa Development Bank.
Mr Yieleh-Chireh said the two projects, which aimed at accelerating Ghana's effort to achieving the Millennium Development Goals would ensure a reduction of poverty by about 50 per cent among the poor living on less than a dollar-a-day.
The Poverty II project is being implemented nation-wide under a seven million- dollar loan, which was first disbursed on March 29, 2005.
It is expected to end by July 30, 2010.
As at July 31, about 76 per cent of the funds have been disbursed leaving about 24 per cent to be utilised.
Mr Yieleh-Chireh said 120 sub-projects had been approved with 92 fully completed while over GH¢5.1 million had been disbursed as micro finance since the inception of the project.
He tasked the board members to review progress in view of the GPRP goals and objectives and make policy recommendations to the Project
Management Unit (PMU) to improve performance.
Mr Yieleh-Chireh said the board must also provide an annual report to the National Development Planning Commission drafted by the PMU and approved by the board.
They must also review and approve or disapprove proposed individual contracts worth the equivalent of 25,000 dollars or more.
He said there was the need to assist in assuring timely disbursement from funding sources if required and review audit reports and ensure
financial transparency.
Dr. James Benjamin Quartey-Papafio, Chairman of the SIF Board, said members would put the national interest ahead in working to address the
vicious cycle of poverty in the country by reaching out to the poor in the society.
The other members include Mr. Roger Allotey, Mrs. Molly Anim-Addo, Mrs. Mildred Annan Bentil, Mr. Joseph Dome Chognuru and Mr. Joseph Quao Cleland. The rest are Mr. Kofi George Dadzie, Mr. Alex Opoku-Boaamah, Mrs. Selina Fenten, Mr. Frank Bo Amissah and Ms. Hilda Salifu.