Ghana Exim Bank, USAID to support yam production and export with $35million

The Ghana Exim Bank and the United States Agency for International Development (USAID) are working to provide a $35 million support package to improve the production and export of yam to the international market.

The support package seeks to address challenges yam exporters face in securing financial assistance and concerns regarding standards and specifications in the yam export industry.

The Chief Executive Officer of the Ghana Exim Bank, Mr Lawrence Agyinsam, announced this at a forum organized by the Exim Bank for yam exporters in Accra.

He noted that Ghana Exim Bank and USAID were committed to improving the standard of yam export from Ghana and expressed readiness in supporting the trade.

“The Ghana Exim Bank is ready to put in $10 million to improve the production and export of yam. USAID is also ready and prepared to invest $25 million for the same purpose,” he emphasized.

Ghana is ranked 1st in the world in terms of the value of yam exports ($37.6m) followed by Jamaica ($37.5m) and the USA ($27.1m).

Therefore, the Ghana Shippers Authority has intensified its effort to ensure that Ghana remains the leading exporter of yam in the world.

It also formed a multi-stakeholder committee to monitor and ensure improvements in Ghana’s Temperature Control Cargo Industry.

Apart from that, the GSA is in talks with GIZ Ghana and the Integrated Customs Management System (ICUMS) on measures to boost trade facilitation.