President Akufo-Addo has directed the Finance Ministry to raise GH₵8 billion relief package to assist farmers grappling with the devastating effects of the ongoing dry spell in the eight regions in Ghana.
This, according to Minister for Finance, Dr Mohammed Amin Adam demonstrates government's commitment to addressing the situation and providing necessary support to affected communities.
The Minister for Finance disclosed this during a press briefing on Monday, August 26.
The relief package will include cash transfers, food supplies, and other essential items for the affected farmers. A technical task force, comprising officials from the Ministries of Finance and Food and Agriculture, will oversee the distribution to ensure fairness and accountability.
Read also: Dry Spell: Affected farmers have lost investment of GH₵3.5bn – Agric Minister
“Our response may not entirely neutralise the extent of the problem. But our response certainly will help in stabilising the situation until we get out of the crisis. And so, as the Minister for Food and Agriculture said, we are seeking to raise about $500 million, the equivalent of GH₵8 billion, to fund the crisis response programme,” Dr. Amin Adam stated.
He added that the funds are to be raised at a time when the buffers are almost depleted.
“This is difficult but we have to raise the funds. As a responsible and sensitive government as we are, the President has directed that we do everything within our power to find the money and fund the government response,” he stated.
Read also: Dry spell: Government bans export of grains with immediate effect
According to him, from the budget side, government has been able to secure up to $160 million which is about GH₵2.5 billion from the contingency fund.
He noted that GH₵2.4 billion will come as support from development partners, including the World Bank.
Dr Amin Adam mentioned that the assistance from the World Bank would primarily focus on cash transfers and the provision of agricultural inputs to aid recovery efforts while that from the contingency vault will be used to bring in more grains to provide relief to farmers.
“So out of the GH₵8 billion we are seeking to mobilise, we can say that we have visibility of about GH₵5 billion that we want to use quickly to respond to the crises,” he pointed.
Latest Stories
-
Apple pulls data protection tool after UK government security row
1 minute -
MTN FA Cup: Gold Stars knocked out on penalties by Attram Devisser
47 minutes -
Assemblyman alleges kidnap, torture on orders of NDC Bono East regional chairman
52 minutes -
CAS dismisses Luis Rubiales’ appeal against FIFA’s three-year ban
1 hour -
When finding love on Facebook becomes a family tradition
2 hours -
We are committed to reviewing Cash Reserve Ratio for banks – BoG Governor
2 hours -
We can’t afford to lose our Indigenous languages – Atwima Nwabiagya North MP
2 hours -
Ghana Police Service refutes claims of neglecting injured officer at KATH
2 hours -
Cybervergent Ghana outlines key strategies for a secure digital future
3 hours -
Morocco struck late to beat Ghana’s Black Queens in friendly
3 hours -
Combine studies and certifications to boost your career prospects, CIB Ghana Chief tells students
3 hours -
Greater Accra Regional Minister gives MMDAs 50-day period to fix streetlights
3 hours -
Ghana’s digital financial renaissance: Redefining economic inclusion through digital assets
4 hours -
Beyond 8-to-5: Preparing Ghana’s supply chains for a 24-Hour Economy
4 hours -
Dr Nana Arthur Joseph Owuraku Jnr: A henius in Homeopathic Medicine and Humanitarian Service
4 hours