The Agricultural Development Bank Limited (ADB) has vowed to champion the agriculture crusade and is encouraging more youth to venture into agriculture, which officials of the bank reckons will boost the country’s economy.
The agriculture sector is expected to record a growth rate of 0.04 percent in 2015, signifying a downturn from the revised target of 3.6 percent, Finance and Economic Planning Minister Mr. Seth Terkper told parliament.
Mr. Terkper, at the presentation of the 2016 budget statement, attributed the slump in growth to the crops sub-sector — which is expected to record negative growth.
It is in this light that officials of adb believe more investment in that sector will not only contribute to recording a surge in the crops sector, but also livestock and fisheries.
Ahead of the National Farmers’ Day award, the bank has assured the Ministry of Food & Agriculture of sponsoring a fully furnished three-bedroom house for the ultimate winner of the 31st National Farmers’ Day award celebration.
Speaking at a presentation ceremony to officially present a symbolic house and its keys to the Ministry of Food and Agriculture, Head of Agric Finance at adb Sylvia Nyante said the prize package from adb demonstrates the bank’s commitment to farmers and fishermen in the country.
She also added that adb’s sponsorship of the event over the years serves as a tool in the bank’s corporate social responsibility which it owes to the welfare of farmers and fishers. “It is therefore not surprising that the bank has consistently been adjudged Best Bank in Agric Financing at the Ghana Banking Awards”.
adb has since the year 2001 presented 13 three-bedroom houses to winners of the National Farmer’s Day award celebration. The bank has also been the main sponsor for other activities of the National Farmers’ Day celebration, such as the National Farmers’ Forum and the Welcome Cocktail for award nominees over the last five years.
adb’s sponsorship of other activities in connection with the Farmers’ Day celebration is a testament to the bank’s commitment toward its core mandate for which it was set up.
“Aside from the three-bedroom house, we have collaborated with the Ministry of Food and Agriculture to organise the farmers’ forum which has yielded great results — with farmers’ understanding how to access credit and also modernise their agricultural practices, the core mandate for which adb was set up,” Mrs. Sylvia Nyante explained.