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Parliament approves loan for local
rice production
Accra, July 31, Ghanadot/GNA - Parliament has approved a 12.
5 million euro loan to support the rice sector in four
regions as part of Ghana's poverty reduction strategy.
The loan agreement, between the government and the Agence
Francaise de Development, is part of 17,310,000 euros being
contracted to finance the rice project in the Northern,
Upper East, Upper West and Volta Regions.
A report of the Finance Committee, which looked at the
agreement, said the project was in line with the Ministry of
Food and Agriculture's objective of facilitating the
production of food crops to attain self-sufficiency in food
production.
"Presently, investments in the sector amount to 27,365,000
dollars covering 4,500 hectares. An amount of 24,000,000
dollars has been invested in the Inland Valleys Rice
Development project, which is expected to produce 20,250
tons annually whilst a total of 3,365,000 dollars invested
in the NERICA project is expected to produce 75,000 tons
annually. Unfortunately, these investments are still
inadequate to meet national demand," the report stated.
It said the implementation of the project would improve rice
production as well as the livelihood of farmers of the four
regions through the development of sustainable economic
activity based on the natural potential of the respective
regions.
It, however, noted that a challenge facing the local rice
industry was marketing and said rice farming appeared to be
unattractive and advised that steps be taken to address this
situation to increase local production.
GNA
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