The Agricultural Development Bank (adb) has indicated its commitment in partnering Agrihouse Foundation, a non-for-profit agriculture organisation, in boosting the work of farmers and enhancing agribusiness in the country.
While noting that the country has not built adequate structures to ensure the agriculture sector grows at the expected rate, the Acting Head of Marketing and Communication of ADB, Selorm Amevor said the bank was poised to overturn such situation.
He therefore stated that, the bank would give the needed support to Agrihouse Foundation and other organisations in bridging such gaps in the sector.
He said this when a team from Agrihouse Foundation led by its Executive Director, Alberta Nana Akyaa Akosa paid a courtesy call on management of the bank last Thursday in Accra.
Mr Amevor explained to the Ghanaian Times that, the move was to ensure that the bank invested more into agric and made the sector more attractive, robust and a major contributor to the growth of the Ghanaian economy.
He also stated that the bank was committed to increasing its loan portfolio to the agriculture sector by 50 per cent from its current figure of 28 per cent in the next three years and had taken the necessary steps to achieve such goal.
"All loans that the bank gives, we’re going to make sure that we dedicate 50 per cent of it to agric and the other sectors like industry, commerce and construction will get the remaining 50 per cent," he stated.
According to Mr Amevor, despite the coronavirus pandemic (COVID-19) causing a drawback in the realisation of the ‘Agenda 50 per cent’ it had taken measures to ensure the goal is achieved.
Miss Akosa expressed the Foundation’s appreciation to the bank for its continuous support in the area of technical training, mentoring and monitoring and financial assistance.
She disclosed that, in the coming year, the Foundation would implement projects which would ensure agribusiness resilience and sustainability and also provide community support mainly to women agric farmers.