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Ghana’s Agricultural Development Bank disburses fund to poultry sector players

Ghana’s Agricultural Development Bank (ADB) has started the fund disbursement to the poultry sector players under Poultry Value Chain Financing Programme (PVCFP)

As reported in the Ghanaian Times, ADB disbursed more than US$3.96mn in the first series to six companies in the Bono Region.

Under the ADB PVCFP programme, the package is being executed in collaboration with the Bank of Ghana, Ministry of Food and Agriculture, Ghana-Incentive-Based-Risk-Sharing System for Agricultural Lending (GIRSAL) and Outgrower and Value Chain Fund (OVCF) is to boost local production of poultry, the source further added.

According to the managing director of ADB, Dr John Kofi Mensah, Ghana’s poultry sector boost is set to revamp the local industry and increase production capacity, thus accelerating the economy by stabilising the local currency cedi.

Dr Mensah further stated that Ghana annually imported more than US$370mn worth of poultry products to meet its in-country demand shortfall. A boost in local production can help Ghana to save the country in foreign exchange as well.