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21.03.2007 Business & Finance

ADB to support small-scale enterprises


The Africa Development Bank (ADB) in collaboration with the Government of Ghana will give credit to operators of small-scale and medium-scale enterprises in the Agona Swedru District towards poverty reduction in the area.

The project expected to take off in May this year, will be executed under the Urban Poverty Reduction Project and would compliment government's efforts at reducing poverty in urban communities.

It was also aimed at achieving the Millennium Development Goals to promote good governance and human resource development.

Dr Yero Baldeh, a Socio-Economist of the ADB in Ghana, announced these at a meeting with the Agona District Chief Executive, Mr Ben Mensah, heads of decentralised departments, non-governmental organisations, operators of businesses, at Agona Swedru.

He said committees have been formed to supervise, monitor and evaluate the project scheduled.

Yashreg Dejene, Gender expert of the ADB praised the Ghanaian media for effectively informing the people about the Urban Poverty Reduction Project, which formed part of the Social Investment Fund Programme.

Mr Isaac Tettey, Agona District Planning Officer, said the project would revolve around capacity building for poor people, revenue generation of women undertaking economic ventures and effectiveness of revenue collection machinery.

He said social capital investment support and socio-economic infrastructure to improve the standards of living of people in urban communities would also be provided.

Mr Tettey said under the programme, people below the extreme poverty line would receive social inclusion transfer money to serve as grant.

He said the operators of small-scale enterprises would also be given financial assistance for job creation through partnership with the ADB.

Mr Tettey said about 4000 households in 12 district capitals selected nation wide to serve as pilots would also benefit from the assistance.

Source: GNA