As part of Ghana's poverty reduction strategy, the country's parliament has approved a 12. 5 million euro loan to support the rice sector in four regions.
The loan agreement, between the Government of Ghana and the Agence Francaise de Development, is part of €17.3 million being contracted to finance the rice project in the Northern, Upper East, Upper West and Volta regions.
"Investments in the sector currently amount to US$27.4 million covering 4,500 hectares. An amount of $24 million has been invested in the Inland Valleys Rice Development project, which is expected to produce 20,250 tons annually whilst a total of 3,365,000 dollars invested in the NERICA project is expected to produce 75,000 tons annually. Unfortunately, these investments are still inadequate to meet national demand," a parliamentary report said.
It noted that a challenge facing the local rice industry was marketing and said rice farming appeared to be unattractive, advising that steps be taken to address the situation.
Accra Mail
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