Government announces 50% interest subsidy on loans to agro-industries

The government announced an interest rate subsidy of 50% on loans to agribusiness companies.

“A framework is being developed to provide a 50% interest subsidy for loans to qualified agro-industries by financial institutions. This will be extended to qualified farmers to expand poultry production operations for hatcheries and processing plants. “

Speaking at the 37th Farmers Day celebration held in Cape Coast on Friday December 3, 2021, President Akufo-Addo said this facility is specifically intended to support poultry farmers.

This year’s celebration is themed “Planting for Food and Jobs – Strengthening Food Systems in Ghana”.

The goal, according to the president, is to support farmers with affordable funding to produce 5 million broilers equivalent to 10,000 metric tonnes of meat by the end of December, ”he said. added.

He further announced that under the “Ghana Cares Obaatanpa” program, the government is establishing an agricultural land information bank that will allow landowners to make the land they intend to lease available. investors.

He said the aim was to address the challenges associated with finding land for agriculture and other investment purposes, as well as reducing the associated costs.

“The government recognizes that investors continue to face challenges in accessing agricultural land due to multiple unsuccessful land tenure arrangements and the lack of satisfactory documentation of land titles.

“As part of the ‘Ghana Cares Obaatanpa’ program, the government is creating an agricultural land information bank that will allow landowners to offer the land they intend to lease to investors,” he said. -he adds.