The Canadian Government is set to inject a total of $120m US Dollars (125m Canadian Dollars) into the Planting For Food and Jobs initiative being spearheaded by the Ministry of Food and Agriculture.
The agreement for the release of the funds was signed last week Wednesday at the Finance Ministry.
It forms part of the Modernizing Agriculture in Ghana (MAG) Project which forms part of efforts by government to reverse the declining growth of the agric sector over the past eight years.
The Minister of Finance, Dr. Ken Ofori-Atta, signed on behalf of Ghana whilst the Canadian High Commissioner to Ghana, Ms Heather Anne Cameron, signed on behalf of her country.
It was also witnessed by the Chief of Staff, Mrs. Frema Opare Addo and the Minister of Food and Agriculture, Hon. Dr. Owusu Afriyie Akoto.
The Planting For Food and Jobs is a new policy geared towards the modernization of Ghana’s Agriculture and ensure food security for the country.
The program will be operating under five main components. These are supply of improved seedlings, provision of fertilizers, extension services, marketing for produce and E-Agriculture.
The Canadian High Commissioner agreed to support the program after series of meetings with Ghana’s Minister of Food and Agriculture.
Briefing the media on the agreement, Hon. Dr. Afriyie Akoto said the amount will be released in five trunches over the next five years and will go into two main components of the program including purchasing and supply of improved seedlings as well as extension services support for beneficiary farmers to be captured under the initiative.
He added that other development partners including the Korean and Israeli Governments have also pledged to support the program which is expected to take off in the coming crop season.