ADB to support local rice farmers to alleviate financial challenges

The Agricultural Development Bank (ADB) has said that it will replicate its investment model in the poultry industry for rice production to reduce financial challenges in the sector. ADB earlier announced a GHC500 million loan facility to help poultry farmers from six regions in Ghana. The bank said this forms part of its efforts to help strengthen Ghana’s livestock sector to reduce the importation of chicken and make Ghana’s poultry industry competitive. Even though ADB is yet to announce the exact amount it will make available for rice farmers, the Managing Director of ADB, Dr John Kofi Mensah, said investment in the rice sector will be more than what has been earmarked for poultry due to the multiple processes involved in rice production. “In the rice value chain, Ghana has the capacity to be self-sufficient in rice production. The value...

Read More