Drought in northern and middle belts: Govt writes off GH¢3.24 billion loans for farmers [VIDEO]
Last week, we reported that over GH¢1.18 billion of investment in agriculture in Ghana is at risk as the nation experiences drought across the middle and northern belts.
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The reason is that the areas within the transition zone of the country are experiencing longer than usual dry spells this year, resulting in severe drought.
As a result the amount invested by farmers into agriculture in the middle and northern zones is at risk.
According to the Ghana Meteorological Authority, farmers started planting ahead of forecasts which said that the rains may delay. This means that many farmers have to lose their planting crops.
Following this, the government has moved to the aid of farmers by writing off 90 percent of their loans, which amount to about GH¢3.24 billion.
The ministers of Finance and Agriculture, held a joint press conference in Accra this evening and announced an update on measures to mitigate the current dry spell in selected regions.
Watch the attached video below
We are looking to raise $500 million (GHS 8 billion) to support our food security interventions. This will be from a combination of funds from the Contingency Fund, Budget Realignment, and Development Partner Funding.
— Office of the Finance Minister-Ghana (@oofmghana) August 26, 2024
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“The people affected by drought are not determined by party colours. Hunger knows no political affiliation. We have put in place stringent measures to ensure that these resources are distributed equitably to farmers most in need, throughout the country. This includes a joint…
— Office of the Finance Minister-Ghana (@oofmghana) August 26, 2024
For farmers to be well-positioned to benefit from interventions, they have to register via https://t.co/6HkEz5VHWM and follow the steps.
— Office of the Finance Minister-Ghana (@oofmghana) August 26, 2024