Audio By Carbonatix
Fund established to mitigate the risks associated with lending to farmers - the Ghana Incentive-based Risk Sharing System for Agricultural Lending (GIRSAL), is now operational, Deputy Minister for horticulture at the Ministry of Food and Agriculture, George Oduro has said.
The Fund was established to reduce the perceived risk of agriculture financing and to crowd in private finance to support smallholder farmers across the country.
According to Mr Oduro, “the banks are willing to lend to farmers now and it’s not like before.”
GIRSAL comprises of six major pillars which include risk sharing, digital finance, insurance, technical assistance, bank incentive mechanisms and a bank rating scheme.
The Bank of Ghana is expected to provide about 75% risk guarantee to commercial banks which lend to smallholder farmers in Ghana. Also, the digital finance aspect is intended to serve farmers in rural communities where banking services are not available. Every farmer under the instrument is required to subscribe to agricultural insurance as a way to reduce investment risk and boost investor confidence.
The Deputy Agric Minister spoke at the GIPC Invest in Ghana Session of the 2019 African Green Revolution Forum on the theme, “Investing in Agriculture – Raising efficiency and productivity for economic growth.”
The forum featured an interactive session to deliberate on best practices to give the agricultural sector a facelift by roping more youth into the sector.
The 4-day African Green Revolution Forum held in Accra is organised by the Alliance for Green Revolution in Africa (AGRA) and the Government of Ghana.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
More than 200 South Tongu residents receive Nkoko Nkitinkiti birds
23 minutes -
GJA decries use of ‘false news’ laws against journalists
27 minutes -
GTA releases 2025 Tourism Report, records growth in international arrivals
30 minutes -
Vice President to launch revised National Cultural Policy today
33 minutes -
Ghana, Belarus sign three MoUs aimed at strengthening cooperation
37 minutes -
Belarus: Brest Governor hosts Mahama after tour of Hero Fortress
40 minutes -
KATH strike: Ashanti Regional Minister assures public of imminent resolution
44 minutes -
Ghana’s gold output surges 23% to nearly 6m ounces in 2025
47 minutes -
We judged performance, not public anger – Big Events Ghana’s Prince Mackay on Linda Ocloo Award
49 minutes -
Judge her before the floods – Awards organisers respond to Linda Ocloo backlash
1 hour -
Italy regulator drops investigation into Meta’s WhatsApp AI bot
1 hour -
WHO’s Tedros says Uganda should reconsider Congo border closure over Ebola
2 hours -
Health experts to screen US wastewater for disease outbreaks during World Cup
2 hours -
Congo says Ebola deaths top 100 as armed groups threaten response
2 hours -
IMF approves $250 million credit facility for Rwanda
2 hours