Kumasi — THE EXPORT Development and Agriculture Investment Fund (EDAIF) is determined to support activities in development and promotion of agriculture related agro-processing industry to help local producers feed the factories and for export.
Mr. Hayford Baa-Adade, Board Member of EDAIF, at a press conference held in Kumasi recently, explained that the facility would provide credit guarantee through designated financial institutions to persons in the agriculture and agro-processing sectors of the economy.
He indicated that appraisal and studies necessary to determine areas of the agriculture and agro-processing sectors that need intervention and monitoring and evaluation of the interventions would also be considered.
Mr. Baa-Adade explained that the EDAIF fund was established by Act 582 of October 2000 to provide financial resources for the development and promotion of the export trade in Ghana, while the Export Development and Agricultural Investment Fund Act 823 dated October, 2011 as Act 582, was amended to include the provision of financial resources for the development and promotion of agriculture relating to agro-processing and agro-processing industry.
He said the Agriculture and Agro-processing Development and Credit Account (the Agric Facility) is one of three Accounts of the fund as stipulated in the amended Act, for which the Board of EDAIF is responsible.
He said there are processes and procedures which serve as a guide for managers of the fund and as a source of information to persons, groups or organizations interested in accessing the Agriculture and Agro-processing Development and Credit Facility of the Fund.
The Board Member stated that for operational purposes the Agriculture and Agro-processing Development and Credit Account of the Fund is divided into two components - Agriculture and Agro-Processing Development Facility (Grant Facility) and Agriculture and Agro-Processing Credit Facility.
He said the Agriculture and Agro-Processing Development Facility supports activities of persons, groups and institutions in the development and promotion of agriculture and agro-processing products, and provision of services to the agriculture and agro-processing sector.
He said the facility is financed under the Agriculture and Agro-Processing development facility which includes products development promotion, Capacity building and research, Development infrastructure and common user facilities for agriculture relating to agro-processing industry, Development and promotion of other agricultural and agri-business entrepreneurial activities and Agriculture and agri-business trade oriented activities of both public and private institutions.
Mr. Baa-Adade added that Public and private sector stakeholders in the agriculture and agro-processing sector and Limited liability companies may, in appropriate cases, be considered if funds required are to be utilized for minor infrastructural works (subject to financial limit) as work to be undertaken would enhance the beneficiary's agriculture or agro-processing activities and project funded under the grant facility will benefit the general public.
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