The Agricultural Development Bank (ADB), has outlined measures to increase and expand its microfinance credit facility to cocoa and other cash crop farmers to expand their farms to increase production.
The bank has also extended a similar facility to small and medium scale entrepreneurs in the Agona West and East, Awutu-Senya, Effutu and Gomoa West Districts to improve their businesses in line with the government’s poverty reduction strategy.
This was stated by Mr Dickson Addae, Swedru Area Manager of the Bank, who spoke to the Ghana News Agency (GNA) on Saturday at Agona Swedru in the Central Region.
He said the bank had increased the number of women groups engaged in gari processing and other income generating ventures in the area, adding that, credit facilities had been increased to promote their businesses.
Mr Addae noted that the bank being agricultural oriented, had targeted oil palm, citrus, Cassava and inland valley rice farmers in the four districts for assistance.
He stressed that young farmers aged between 18 and 35 had been grouped and extension officers from the Ministry of Food and Agriculture (MOFA) tasked to train them in modern farming methods.
The Manager said Automatic Teller Machines (ATMs) would soon be installed at the Agona Swedru Branch to enable customers to have access to their account throughout the day and to reduce time wasting.
He said the Winneba Agency of the bank would soon be upgraded to a branch to enable it to serve its numerous customers, especially University students.
The government had also chosen the Bank as one of the main organizations for the disbursement of the Millennium Challenge Account (MDA), which would take off in June this year.
Source: GNA
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
GPL 2024/2025: Aduana beat struggling Legon Cities
5 minutes -
GPL 2024/25: Bechem United fail to honor match against Holy Stars
20 minutes -
Cooking competition takes centrestage at Joy FM Family Party In The Park
50 minutes -
Album review: ‘Wonder’ by Nana Fredua-Agyeman Jnr
3 hours -
Bouncy castle, sack race, and smiles galore: Joy FM Family Party takes over Aburi Gardens
3 hours -
Watch: Kwan Pa Band thrills patrons at Joy FM Family Party in the Park
3 hours -
Akufo-Addo partly to blame for NPP’s defeat in 2024 election – Frank Agyekum
3 hours -
Rapid urbanisation endangers children’s mental health – Psychiatrist warns
3 hours -
Kedland International School hosts maiden Festival of Nine Lessons and Carols
3 hours -
I didn’t speak against holding wrongdoers accountable – Rev. Kwadwo Bempah clarifies ORAL comment
4 hours -
RSS Developers to hold 3-day open house event on home purchasing from Friday, Dec. 27
5 hours -
Elikem Treveh: How TEIN UMaT students contributed significantly to NDC’s victory in Tarkwa Nsuaem constituency
5 hours -
Joy FM Family Party in the Park kicks off with excitement at Aburi Botanical Gardens
5 hours -
Australian mining giant files $277m claim against Ghana over gold project dispute
5 hours -
JP U-15 Cup 2024: Fadama Ajax wins maiden edition
6 hours