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ADB increases microfinance credit facility to cocoa and
cassava farmers
Agona Swedru, (C/R) April. 21, Ghanadot/GNA-
The Agricultural Development Bank (ADB), has outlined
measures to increase and expand its microfinance credit
facility to cocoa and other cash crop farmers to expand
their farms to increase production.
The bank has also extended a similar facility to small and
medium scale entrepreneurs in the Agona West and East, Awutu-Senya,
Effutu and Gomoa West Districts to improve their businesses
in line with the government’s poverty reduction strategy.
This was stated by Mr Dickson Addae, Swedru Area Manager of
the Bank, who spoke to the Ghana News Agency (GNA) on
Saturday at Agona Swedru in the Central Region.
He said the bank had increased the number of women groups
engaged in garri processing and other income generating
ventures in the area, adding that, credit facilities had
been increased to promote their businesses.
Mr Addae noted that the bank being agricultural oriented,
had targeted oil palm, citrus, Cassava and inland valley
rice farmers in the four districts for assistance.
He stressed that young farmers aged between 18 and 35 had
been grouped and extension officers from the Ministry of
Food and Agriculture (MOFA) tasked to train them in modern
farming methods.
The Manager said Automatic Teller Machines (ATMs) would soon
be installed at the Agona Swedru Branch to enable customers
to have access to their account throughout the day and to
reduce time wasting.
He said the Winneba Agency of the bank would soon be
upgraded to a branch to enable it to serve its numerous
customers, especially University students.
The government had also chosen the Bank as one of the main
organizations for the disbursement of the Millennium
Challenge Account (MDA), which would take of in June this
year.
GNA
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