Finance Ministry directed to raise GH₵8bn to deal with dry spell

Source: Emma Ankrah

President Akufo-Addo has directed the Finance Ministry to raise GH₵8 billion relief package to assist farmers grappling with the devastating effects of the ongoing dry spell in the eight regions in Ghana.

This, according to Minister for Finance, Dr Mohammed Amin Adam demonstrates government’s commitment to addressing the situation and providing necessary support to affected communities.
The Minister for Finance disclosed this during a press briefing on Monday, August 26.

The relief package will include cash transfers, food supplies, and other essential items for the affected farmers. A technical task force, comprising officials from the Ministries of Finance and Food and Agriculture, will oversee the distribution to ensure fairness and accountability.
“Our response may not entirely neutralise the extent of the problem. But our response certainly will help in stabilising the situation until we get out of the crisis. And so, as the Minister for Food and Agriculture said, we are seeking to raise about $500 million, the equivalent of GH₵8 billion, to fund the crisis response programme,” Dr. Amin Adam stated.

He added that the funds are to be raised at a time when the buffers are almost depleted.
“This is difficult but we have to raise the funds. As a responsible and sensitive government as we are, the President has directed that we do everything within our power to find the money and fund the government response,” he stated.

Read also: Dry spell: Government bans export of grains with immediate effect

According to him, from the budget side, government has been able to secure up to $160 million which is about GH₵2.5 billion from the contingency fund.
He noted that GH₵2.4 billion will come as support from development partners, including the World Bank.

Dr Amin Adam mentioned that the assistance from the World Bank would primarily focus on cash transfers and the provision of agricultural inputs to aid recovery efforts while that from the contingency vault will be used to bring in more grains to provide relief to farmers.

“So out of the GH₵8 billion we are seeking to mobilise, we can say that we have visibility of about GH₵5 billion that we want to use quickly to respond to the crises,” he pointed.