Business News of Tuesday, 27 August 2024

Source: www.ghanaweb.com

Government allocates GH¢8 billion to provide relief, address dry spell crisis

Minister of Finance, Dr. Mohammed Amin Adam Minister of Finance, Dr. Mohammed Amin Adam

In response to the severe dry spell affecting farmers across Ghana, the government has announced a substantial allocation of GH¢8 billion to provide relief and implement mitigation measures.

The announcement was made by the Minister for Finance, Dr. Mohammed Amin Adam, on August 26, 2024, at a press briefing.

He emphasised the government's commitment to stabilizing the situation and supporting affected farmers.

“Our response may not entirely neutralize the extent of the problem, but it will certainly help in stabilising the situation until we get out of the crisis,” Dr. Adam stated.

He further explained that the government is seeking to raise approximately US$500 million U.S. dollars, equivalent to GH¢8 billion, to fund the crisis response program.

The relief package includes cash transfers and the supply of food and other essential items to the affected farmers.

To ensure fairness and accountability in the distribution of these relief items, a technical task force comprising members from the Ministries of Finance and Food and Agriculture will oversee the process.

Dr. Adam detailed the funding sources for the crisis response, noting that GH¢2.5 billion will be drawn from the contingency fund, while GH¢2.4 billion will come from support provided by development partners.

He highlighted that the World Bank's contribution will be specifically used for cash transfers and the supply of agricultural inputs.

The dry spell has affected some regions in the northern and middle belts.

During his recent visit to the Upper East Regional capital, Bolgatanga, to commission the hospital, President Akufo-Addo expressed concern about the situation and pledged to take decisive action to alleviate the effects of climate disruption that have plagued these regions.

Farmers in these areas have faced significant losses as their crops and overall farm output have been severely impacted by the current dry spell.

These measures are expected to offer a glimmer of hope to the affected farmers and their households and will also largely support agricultural recovery in the northern regions.

ID/KA