The Government of Ghana and KfW, the German Development Bank acting on behalf of the German Government signed on Monday a loan and financing agreement for a 10.0 million Euros loan and a 1.0 million Euros grant for the establishment of an “Outgrower and Value Chain Fund” (OVCF). The Agreement was jointly signed by Honorable Dr. Kwabena Duffuor, Minister of Finance and Economic Planning and Dr. Klaus Mueller, KfW First Vice President in the presence of Mrs. Harriet Ludwig (Head of Cooperation at the German Embassy), Mr. Martin Mueller (GTZ Director West Africa and Pan-African Programmes), Dr. Helmut Schoen (KfW Country Director, Accra), and Mr. Fred Brandl (GTZ Country Director, Accra).
The ceremony was attended by Hon E. T Mensah (Minister, Employment and Social Welfare), Mr. Okyere-Nyako (MoFEP Director Bilateral) and other officials from MoFEP.
Agriculture is one of the three focal sectors of German Development Cooperation with the overall goal to improve the income of the rural population by supporting value chain approaches and strengthening small scale commercial farmers.
Access to finance is a major problem for the development of the agricultural sector. This problem is specifically addressed by the Outgrower and Value Chain Fund which will provide improved access to medium to long term financing of investments by small scale farmers and will contribute to the development of outgrower schemes and the integration of small holder farmers into market oriented agricultural development.
To further underline the importance of the agricultural sector for Ghana the German Government announced on the same day the new commitment of an amount of 3 Mio. € for technical assistance for this sector. This is additional to the 130 Mio. € envelope already committed to Ghana in December 2009.
The visit of two high ranking officials from the Headquarters of two of the major implementing agencies of Germany’s support - from KfW Development Bank and GTZ -demonstrate the joint approach in the sector.
The Government of Ghana and KfW, the German Development Bank acting on behalf of the German Government signed on Monday a loan and financing agreement for a 10.0 million Euros loan and a 1.0 million Euros grant for the establishment of an “Outgrower and Value Chain Fund” (OVCF).
The Agreement was jointly signed by Honorable Dr. Kwabena Duffuor, Minister of Finance and Economic Planning and Dr. Klaus Mueller, KfW First Vice President in the presence of Mrs. Harriet Ludwig (Head of Cooperation at the German Embassy), Mr. Martin Mueller (GTZ Director West Africa and Pan-African Programmes), Dr. Helmut Schoen (KfW Country Director, Accra), and Mr. Fred Brandl (GTZ Country Director, Accra).
The ceremony was attended by Hon E. T Mensah (Minister, Employment and Social Welfare), Mr. Okyere-Nyako (MoFEP Director Bilateral) and other officials from MoFEP.
Agriculture is one of the three focal sectors of German Development Cooperation with the overall goal to improve the income of the rural population by supporting value chain approaches and strengthening small scale commercial farmers.
Access to finance is a major problem for the development of the agricultural sector. This problem is specifically addressed by the Outgrower and Value Chain Fund which will provide improved access to medium to long term financing of investments by small scale farmers and will contribute to the development of outgrower schemes and the integration of small holder farmers into market oriented agricultural development.
To further underline the importance of the agricultural sector for Ghana the German Government announced on the same day the new commitment of an amount of 3 Mio. € for technical assistance for this sector. This is additional to the 130 Mio. € envelope already committed to Ghana in December 2009.
The visit of two high ranking officials from the Headquarters of two of the major implementing agencies of Germany’s support - from KfW Development Bank and GTZ -demonstrate the joint approach in the sector.
PR Section/ German Embassy,Accra
No comments:
Post a Comment