The Ministry of Food and Agriculture and ARB Apex Bank have signed an agreement to manage a $1 million revolving fund under the Food and Nutrition Security Resilience Project.
The project, funded by the Global Agriculture and Food Security Programme (GAFSP) to the tune of $20 million, aims to enhance food and nutrition security in the Northern Savannah Ecological Zone in the country.
The project, which is being implemented in 12 districts across six regions: Northern, Savannah, North East, Upper West, Upper East, Oti regions focuses on strategic investments to achieve maximum impact.
Signing the Memorandum of Understanding in Accra on Wednesday, the Minister of Food and Agriculture, Mr Eric Opoku, pledged to improve food production across the five regions in the north following a challenging farming season marked by drought.
He said the primary objective was to increase farmer incomes and support household nutrition, particularly among women-headed households, through a package of interventions.
This, he asserted would improve access to climate-smart agricultural inputs for staple crops such as maize, rice, soybean, cowpea, and groundnut.
Furthermore, the sector minister said it would enhance mechanisation through hand-held agricultural equipment tailored to smallholder needs.
He noted that the project would deploy solar-powered micro-irrigation kits to boost dry-season vegetable production and also promote household poultry production to enhance access to affordable, nutritious food.
“The Revolving Fund has been designed with an interest rate of just 10 per cent and a flexible repayment schedule, making it truly accessible to those who need it most.”
“It also complements the government’s ongoing efforts to de-risk agricultural lending through the Ghana Incentive-Based Risk Sharing Agricultural Lending (GIRSAL) scheme,” he highlighted.
Mr Opoku underscored that the agreement marked a significant milestone in the project’s implementation, leveraging ARB Apex Bank’s extensive network of Rural and Community Banks to reach target beneficiaries at the grassroots level.
This initiative, he said aligns with the government’s Agriculture for Economic Transformation Agenda and the Feed Ghana Programme, aiming to build a sustainable, inclusive, and resilient food system.
He urged stakeholders to work with “urgency, transparency, and dedication” to ensure the efficient administration and sustainable use of the Fund.
“Our goal must be to see the outcomes of this intervention reflected in tangible improvements in the lives of our farmers and the resilience of our food systems,” he stated.
The Managing Director of ARB Apex Bank, Mr Alex Kwasi Awuah, assured the minister of its commitment to implementing the project with high standards, ensuring timely recovery of funds, and maintaining its reputation as a worthy partner in government initiatives.
Having collaborated with the government on various projects, he said the bank’s extensive network of over 850 locations across the country made it an ideal partner for reaching rural communities.