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By Godwill Arthur-Mensah, RNG
Accra, April
17, GNA – The board of directors of
the African Development Bank (AfDB) Fast Track Fund for Agriculture (AFT)
approved $ 23 million in grants to support small and medium-sized businesses in the agri-food sector.
small and medium-sized enterprises (SMEs) in eight African countries.
The multi-donor
The Trust Fund is supported by the Governments of the United States of America.
America, Denmark and Sweden through their development agencies (United States)
Agency for International Development (USAID), Danish International Development
(DANIDA) and Swedish International Development (Sida).
Each of
beneficiaries would receive between US $ 100,000 and US $ 1.5 million under the
preparation of agricultural infrastructure projects and financing or advice
services for agribusiness expansion purposes.
Projects
are supposed to be implemented within six months and also fund upstream work
project, including feasibility studies, business plans, products and
certification process, market badysis, as well as help them to lead
study of environmental and social impact.
The beneficiary
SMEs from Ghana, Burkina Faso, Ethiopia, Malawi, Mozambique,
Nigeria, Senegal and Tanzania to increase food production and women's empowerment
and create jobs in Africa.
AFT since
its establishment in 2013 was administered by the Ministry of Agriculture and
Agro-Industry Department of the AfDB and approved 36 grant projects, mainly
Agribusiness SMEs sponsored by the private sector.
At launch
newly approved grants, projects under the auspices of AFT in Accra
Wednesday, Mr. Yaro Baldeh, Country Manager of the AfDB, in a speech
read in his name, said that the Bank's ambition to support agriculture
transformation in Africa was essential to eradicate extreme poverty in
2025.
He said the
grant projects were at the heart of the Bank's Feed Africa strategy, aimed at
end hunger and malnutrition on the continent, make Africa a net food
exporter and propel Africa to the top of the export-oriented global value
chain.
Consequently, he
was careful to exploit the full potential of African agriculture and that the
AFT played a unique and focused role in supporting the development of a
pipeline of "bankable" agricultural infrastructure projects, he said.
Of the 17
projects, four would be implemented in Ghana while the remaining 13 would be
set up in seven other eligible countries and these projects have been
selected competitively on the basis of the applications of the AFT Technical Review
Committee received from October to November 2018.
Dr. Jonas
Chianu, the coordinator of the Fast Track Agriculture Fund, said a total of
1,022 entries were received by the AFT Technical Review Committee and after
rigorous technical evaluation 17 projects were selected to benefit from support.
He said the
funds to support SMEs in poultry farming, seed cultivation, irrigation
agriculture and other interventions and expressed the conviction that the projects
would have a positive impact on job creation, women's empowerment and would improve
agricultural infrastructure.
Monsieur Emmanuel
Fordjour, Head of Unit of the African Development Bank at the Ministry of Finance
Ministry, said that AfDB support to SMEs was commendable and that the Bank
encouraged to do more, as this would stimulate agricultural production and
improve food security in Africa.
A die
Dr. Gebriel Galatis, National Director of the Canadian Feed the
Children, an Ethiopian NGO, said the Bank's support would allow the
Organization to undertake irrigation agriculture to promote food security,
especially in southern Ethiopia, which has been ravaged by long periods
war.
It would also be
empower women and girls to undertake agribusiness activities and process tomatoes
locally to ensure the livelihood of the local economy.
Another
incumbent, Mr. JohnCarl Dunyo Kwame, Product Innovation and Distribution Manager
Farmline, a Ghanaian farm company, said the funding would allow
to build more warehouses to preserve cocoa beans in the Upper West,
Regions of Brong Ahafo and Ashanti.
As a member of
launch, a workshop was organized for the beneficiaries and to familiarize themselves with
all of AFT's operations and provide information on the processes,
procedures and tools needed for effective and smooth implementation of the
projects.
GNA
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