EDAIF Approves GH¢57.1 Grants, Credit Facility

oseiThe Board of the Export Trade, Agricultural and  Industrial Development Fund, in June and July this year, approved GH¢57.1 million in grants and credit in favour of 28 beneficiaries.

The beneficiaries of the above facility comprise of 15 small-holder cooperatives and associations, eight  companies and five public institutions.

A statement issued by EDAIF in Accra on Friday said a grant facility of GH¢48.5 million was approved in support of government’s initiatives and interventions in different sectors of the economy.

“Major among these was an approval of GH¢21.7 million towards expanding local rice production. Also, a huge step was taken towards large scale shea butter cultivation in Northern Ghana with an approval of GH¢3.43 million,” it said.

Other activities that received approval according to the statement were GH¢6.37 million to support the establishment of the Ghana Commodities Exchange, GH¢2.88 for the cultivation of kenaf plant by small holders to serve as raw material for the manufacture of jute sack in Ghana.

The statement said approval was also given for honey production, oil palm processing, fish production and production of organic fertiliser.

EDAIF support for small-holder associations and cooperatives it said demonstrates government’s commitment to enhancing the productive capacity of the small and medium scale enterprises.

Two firms would receive a total of GH¢8.4 million in loans to support the processing of oil palm and the manufacture of footwear.

By Times Reporter

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