Alhaji Alhassan Yakubu-Tali (right) in a hand shake with Agric Minister Bryan Acheampong (left)
Managing Director of the Agricultural Development Bank (ADB) Alhaji Alhassan Yakubu-Tali has pledged to partner the Ministry Of Agriculture, to ensure the success of the agricultural sector.
“Honourable Minister, this is a promise and ADB will stand by you” he told his host when he led a team from the bank to pay a congratulatory and solidarity visit to the sector minister, Bryan Acheampong, in Accra.
That he was appointed as Managing Director of the ADB some five months ago as the minister was recently suggests a good omen for the agriculture sector he said.
“My visit with my team is to assure you of our incomparable support to guarantee your success as the Minister and that ADB will continue to partner your Ministry to ensure the objectives of the Ministry and the Government when it comes to Agricultural Financing and Development” he said.
ADB he said during his speech has over the years positioned itself as the bank of choice when it comes to issues of agricultural financing and support.
“Definitely when you analyze the challenges in the Agric Sector; ranging from the perceived risky nature of the industry, land tenure system, absence of long term funds etc., many Banks shy away from financing the Sector” he mentioned but was quick to add that “for ADB, these challenges still present opportunities and we continue to keep faith with the sector.”
Currently ADB’s investment in the Agric Sector he mentioned “has seen a steady growth with total agricultural loan hitting over GH¢1billion as at April, 2023 excluding the huge volumes of non-funded facilities such as letters of credit and guarantees granted for the purchase of agricultural inputs, machinery, equipment and raw materials.
ADB he said has and continue to provide financing to major government programmes such as the Planting for Food and Jobs (PFJ) campaign, rearing for Food and Jobs (RFJ), Planting for Export and Rural Development (PERD) as well as the One District One Factory Initiative (1D1F) among other government policy initiatives.
We have also disbursed over GH¢151.83million to 21 viable projects to undertake various projects under the planting for food and jobs programme he disclosed.
To guarantee food security by supporting the purchasing of stocks harvested under the PFJ programme as well as ensure constant food supplies to the free SHS programme, the Bank between 2018 to date ADB he said has disbursed in excess of GH¢460million to NAFCO (Buffer Stock).
By A.R. Gomda