The Ministry of Trade and Industry (MOTI) has requested for an additional loan of US$40 million from the International Fund for Agricultural Development (IFAD) to finance the Rural Enterprises Programme (REP). The loan amount, however, has a grant element of 57.8 percent, with the remaining 42.2 percent attracting a zero percent interest. It has a moratorium of 10 years and a repayment period of 30 years.
This was disclosed when officials of the MOTI and the Ministry of Finance met the Parliamentary Select Committee for finance.
Rural Enterprise Programme
The REP is part of the government’s efforts to reduce poverty and improve living conditions in rural areas. Phase One of the project was implemented between 1995 to 2002 in 13 districts in the Ashanti and Brong Ahafo regions. The second phase (from 2003 to 2012) was implemented in 66 districts nationwide.
Due to the contribution of the programme towards poverty reduction and its role in boosting local economic growth, the government agreed with IFAD the and Africa Development Bank (AfDB) to expand the scope of the project into a nationwide programme and also extend its implementation time frame from 2012 to 2020.
The government has, however, decided to further extend the programme to 2022 taking cognisance of the depth of its industrial transformational agenda. In view of this, MOTI, through the Ministry of Finance, submitted a request for additional funding of US$40 million from the IFAD to finance the consolidation and scaling up of the programme.
Target population
The programme is geared towards benefiting the rural entrepreneurial poor that are able to convert the capacity-building support from the programme into productive assets with or without additional investments. It is expected to be implemented in all rural districts nationwide and will upgrade the entrepreneurial skills of target beneficiaries.
Credit assistance to clients
The participating financial institutions are also expected to extend additional credit to REP clients and will contribute to the cost of training their staff. Beneficiaries will also provide in kind or cash contributions towards the programme and also contribute to their own business investments.
The committee expressed concern about the phenomenon where concessionary loan facilities were given out to poor rural folks by participating financial institutions at exorbitant interest rates, thereby causing many to default in repayment. The committee, therefore, advised the two ministries to ensure that credit facilities granted to rural entrepreneurs under the programme were given on soft terms so as to aid the profitability of their businesses and their ability to repay the facilities.
Financing plan
As to whether the IFAD facility would cover the entire cost of the programme, officials of the MOTI answered in the negative and explained that the the IFAD’s concessional loan constituted only 62 per cent of the required additional funding.
The remaining 28 per cent would be contributed by other stakeholders such as participating financial institutions, programme clients and participating district assemblies. Others are the National Board for Small Scale Industries (NBSSI), GRATIS, and the government of Ghana.
Source: Daily Graphic: https://www.graphic.com.gh/business/business-news/moti-seeks-additional-funding-for-rural-enterprise-programme.
generic ivermectin ivermectin 8 mg
cialis marke 20mg tadalafil without a doctor’s prescription
https://stromectolgf.online/# ivermectin pills human
buy ivermectin stromectol price
buy prescription drugs from canada canadian drug pharmacy
buy prescription drugs from india buy prescription drugs without doctor
https://drwithoutdoctorprescription.online/# pain meds online without doctor prescription
pet antibiotics without vet prescription comfortis for dogs without vet prescription
legal to buy prescription drugs without prescription discount prescription drugs
viagra from india viagra from india
viagra discount viagra pills
buy generic 100mg viagra online over the counter viagra
viagra pills viagra cost per pill
where to buy viagra п»їviagra pills
doxycycline tablets doxycycline 50 mg buy uk
https://zithromaxforsale.shop/# buy zithromax online australia
how much is prednisone 5mg buy prednisone tablets uk
buy clomid without script where can you buy clomid online
effexor and tamoxifen what happens when you stop taking tamoxifen
buy metformin 500 mg online metformin tablet price in india
https://buymetformin.best/# metformin er 1000
https://buytadalafil.men/# tadalafil canadian pharmacy online
https://buynolvadex.store/# nolvadex 20mg
https://erectionpills.best/# best pill for ed