World Bank to rescue local rice, cereal farmers

The World Bank will next year invest some fifty million dollars in the cultivation of rice and cereals.

The amount is part of a total of 150 million dollars the bank plans to invest in the agricultural sector in 2011.

Another fifty million of the amount will go to the fisheries sector with the remainder going into commercializing agriculture.

Country Director Ishac Diwan explains to Joy Business why the bank is targeting these areas.

“We are trying to attract about 20 large farmers that we will invest in to 20-30 million a year working with outgrowers team.

“…We also help support the small growers to become commercially minded.

The hope is to curtail the imports of rice in the country and to ensure that the country could fill the rice gap in the sub region.

He said half of the money will go into developing farming activities in the Accra Plains.