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13.12.2005 General News

Parliament adopts report on 25 million-dollar loan

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Accra, Dec. 13, GNA - Parliament on Tuesday adopted a report of the Finance Committee on a loan agreement between the government and the African Development Fund covering 25 million dollars for financing the Export Market and Quality Awareness project. The loan, with no interest charge and has a 40-year repayment period, is expected to boost horticulture and processed cassava products exports.

The Committee's report said the project was to increase total revenue accruing to crop farmers and exporters of cassava products through the increase in exports of these non-traditional agricultural products. It said government had identified an increase in non-traditional exports as a central element of Ghana's strategy to become a middle-income country by the year, 2015.

The report said the total non-traditional sector in Ghana was "currently estimated at 400 million dollars at freight on board prices of which 30 million dollars is from horticulture produce." Ghana's main horticulture exports are pineapple, cashew, papaya, banana, mango, yam and vegetable, according to the report.

The Committee noted that in order to maintain and possibly expand market shares it was important and crucial for Ghana to adjust its products to conform to the needs of the international market in the shortest possible period.

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