Government has announced a 50% interest rate subsidy on loans for agribusinesses.
“A framework is being developed to provide a 50% interest rate subsidy for loans advanced to qualified agribusiness by financial institutions. This will be extended to qualified farmers to expand poultry production operations for hatchery and processing plants.”
Speaking at the 37th Farmers’ Day Celebration which was held in Cape Coast on Friday, December 3, 2021, President Akufo-Addo indicated that this facility is specifically to support poultry farmers.
This year’s celebration is under the theme, “Planting for food and jobs – Consolidating food systems in Ghana.”
The target, according to the President, is to support the farmers with affordable financing to produce 5million broiler birds equivalent to 10,000 metric tonnes of meat by the end of this month of December,” he added.
He further announced that as part of the ‘Ghana Cares Obaatanpa’ programme, the government is creating an agricultural land information bank that will enable landowners to make lands they intend to lease, available to investors.
He said this is to address challenges associated with land searches for farming and other investment purposes, as well as reduce related costs.
“Government is aware that investors continue to face challenges with respect to accessing agricultural land due to the unfortunate multiple land tenure arrangements and the absence of satisfactory documentation on land titles.
“As part of the ‘Ghana Cares Obaatanpa’ programme, the government is creating an agricultural land information bank which will enable landowners to put forward lands they intend to lease to investors,” he added.