Prez Akufo-Addo Directs Finance Ministry to Mobilize GHS 8 Billion Relief for Drought-Affected Farmers
President Akufo-Addo has directed the Finance Ministry to mobilize a GHS 8 billion relief package in response to the severe dry spell affecting farmers across eight regions of the country.
The initiative, announced by Finance Minister Dr. Mohammed Amin Adam, underscores the administration’s commitment to mitigating the crisis’s impact on the agricultural sector, which remains a cornerstone of the nation’s economy.
The relief package, designed to include cash transfers, food supplies, and other critical provisions, will be administered by a specially appointed technical task force comprising officials from the Ministries of Finance and Food and Agriculture.
This measure is intended to ensure the equitable and transparent distribution of resources to the hardest-hit communities.
Speaking at a press briefing on Monday, August 26, Dr. Amin Adam acknowledged the formidable challenge of raising the necessary funds amidst depleted financial buffers.
He revealed that GHS 2.5 billion has already been secured from the contingency fund, while an additional GHS 2.4 billion will be provided by development partners, including the World Bank. The latter’s contribution is expected to focus on cash transfers and the provision of agricultural inputs to support recovery efforts.
“Our response may not fully neutralize the crisis, but it will provide crucial stabilization as we navigate this challenging period,” Dr. Amin Adam stated, further emphasizing the government’s determination to “do everything within our power” to secure the remaining GHS 3.1 billion funds to address the crisis head-on.
The situation, which has already led to significant losses for farmers, underscores the broader vulnerabilities within Ghana’s agricultural sector. As the government seeks to raise the remaining GHS 3.1 billion, it faces a delicate balancing act between addressing immediate needs and managing long-term fiscal stability.
