The World Bank has approved a $50.3 million loan facility to support Ghana's fishing industry, which has been facing numerous challenges.
The loan, according to experts, would serve as a lifeline to the ailing fishing industry and would be used to undertake a number of projects in the industry to improve the lives of Ghanaians, especially fishermen.
Kwesi Ahwoi, Minister of Food and Agriculture, speaking after the inauguration of a nine-member implementation committee that is expected to steer the affairs of the Anomabo Fisheries College, which would be a satellite campus of the University of Cape Coast (UCC) in the Central region, hinted that a part of the loan would be used to fund research in the industry.
The funds would also aid the construction of the Fisheries College, which would be situated at Anomabo in the Central region while the all wooden canoes would be replaced with fiber boats to enhance fishing activities.
Replacement of wooden boats with fibre would save the country's forest cover.
Mr. Ahwoi said government would soon provide numbers to all boats as a form of identification.
President John Evans Atta Mills, prior to the inauguration, consented to the establishment of the committee, which would be mandated to come up with modalities and other details needed to complete the construction of the Fisheries College.
The committee would be chaired by Mr. Ahwoi with K. Abaka-Quansah of the Office of the President and Dora Parker, Assembly member for Krowkesim-Okokodo Electoral Area, Anomabo, Professor Fredrick N.A. Odoi and Dr Joseph Aggrey-Fynn both of the University of Cape Coast as members.
Others are Samuel Danquah Arkhurst of the Ministry of Finance and Economic Planning and Alexis Kwabena Asuinara of the Ghana Education Trust Fund, Nana Owiansa V, Guantoahene of Anomabo Traditional Area and Mrs Sylvia Nyante of the Agricultural Development Bank (ADB).
The mandate of the committee, according to Mr. Ahwoi expires on October 31, 2013.
He noted that apart from the construction of the college, government would establish a fish processing plant and market at Anomabo.
Mr Ahwoi in an interview with CITY & BUSINESS DAILY said the Ministry of Finance has released GH¢1 million to support of the college.
By Stella Danso Addai
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