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Business News of Friday, 31 October 2014

Source: GNA

SIF launches Rural Integrated Dev’t Project

The Social Investment Fund (SIF) has launched the Integrated Rural Development Project (IRDP) aimed to increase household incomes and employment through enhanced farming, marketing and distribution in the agricultural production value chain.

Mr Joseph Acheampong, Executive Director of SIF, said the project would also increase the outputs of micro, small and medium scale agricultural producers through the provision of credit, technology and access to social service.

“It would also provide farmers access to reliable and ready market for their produce and strengthen institutional capacities,” he said.

He said 20 Metropolitan, Municipal and District Assemblies (MMDAs) with agricultural development potentials had been selected from 10 regions for the project, which is being funded by the Arab Bank for Economic in Africa and the OPEC fund for international development and would end in 2017.

Mr Aquinas Quansah, the Central Regional Minister, said the government was committed to improving the lives of the people, especially the vulnerable by implementing policies and programmes such as the IRPD.

He urged the beneficiary MMDA’s to justify their inclusion by ensuring that they work hard towards achieving the aims and objectives of the project.

Mr Nii Lante Vanderpuye, Deputy Minister of Local Government and Rural Development, commended the management of SIF for its quest to reduce poverty in the country by introducing many pro-poor programmes.

He said agri-business is a key priority of the government, as many programmes and projects are being rolled out.

He said the government was constructing irrigation schemes across the country as well as acquiring more lands for rice farming and other agricultural produce.

He said such measures would help reduce hunger and create employment.

Mr Vanderpuye said government would continue to roll out more pro-poor measures as it attempts to achieve the Millennium Development Goal on poverty reduction.

He urged the management of SIF to ensure proper monitoring and evaluation of the project for it to be successful.