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16.10.2020 Business & Finance

Parliament Secures $20m Deal With International Fund For Agricultural Development

Parliament Secures $20m Deal With International Fund For Agricultural Development
LISTEN OCT 16, 2020

Parliament has approved a $20 million agreement between government and the International Fund for Agricultural Development to the mitigate threat to food production due to COVID-19.

Under a programme called the Emergency Support to Rural Livelihoods and Food systems exposed to COVID-19, 5,000 vulnerable households will receive cash transfers amounting to the Ghana cedi equivalent of $100.

Selection of beneficiaries will be done in collaboration with the Ministry of Gender, Children and Social Protection and other state institutions.

According to the Report on the Finance Committee of the Parliament, the project will contribute to protecting livelihoods, incomes and the resilience of target groups in the era of COVID-19.

IFAD has indicated that the total project cost will be $41.56 million.

But it will be spending $20 million.

The co-financiers of the deal are Canada with $ 2.64 million and the World Food Programme with $2.02 million.

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