GHANA – The government of Ghana has signed a 20-million Euro (US$23.9m) grant-agreement with the government of Germany through GIZ, to provide technical cooperation in the areas of Agribusiness and Renewable Energy.
According to reports by Ghana Web, the Agribusiness programme will support Ghana’s efforts to boost the dynamic agro-processing sector with a high potential for growth.
The programme aims at offering micro-, small and medium enterprises opportunities to expand their businesses and create jobs, especially for the youth, and thus mitigating the negative economic impact of the Covid-19 crises.
The project on energy will spearhead the government’s effort to bring more renewable energy to the country and improve energy efficiency in industry, households and public buildings.
“Our aim with these new projects is to create jobs and protect the environment. This grant is part of our development cooperation with a volume of 130m EUR (US$155.7m) per year.”German Ambassador to Ghana – Christoph Retzlaff
Further to that, the projects will enable the West African nation to achieve inclusive and sustainable growth.
“Our aim with these new projects is to create jobs and protect the environment. This grant is part of our development cooperation with a volume of 130m EUR (US$155.7m) per year,” said German Ambassador to Ghana, Christoph Retzlaff.
NBS Bank partners GIZ in AgriFinance project
Meanwhile in Malawi, GIZ has partnered with Malawi Stock Exchange listed NBS Bank, in the promotion of Agricultural Finance (AgriFin) project focusing on engaging both the supply and demand sides of small-scale farmers, farmer organizations and agri-based entrepreneurs.
On the supply side, GIZ, through the AgFin Project, has partnered with the bank in the development of financial services adapted to the target groups’ needs and provide capacity building for the management and staff on the specifics of the agricultural sector.
On the demand side, farmers and agri-based entrepreneurs will be trained to economically analyze their business and evaluate their financing options.
Speaking at the signing ceremony of the partnership in Blantyre, AgFin Team Leader, Harald Neimeier said by engaging the two key players in the agricultural financing channel, the project expects to have increased access to formal banking services by the rural population of which the majority are farmers.
“With increased access to banking services, the farmers and agri-based entrepreneurs will in turn invest more in agricultural production, processing and marketing to further develop their businesses,” said Neimeier.
He said the project will work in three fields of action namely product knowledge and development, support of farmers and agri-based rural enterprises and support of financial institutions.
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