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General News Mon, 30 Sep 2002

Five Regions to Receive Over C5.6 Billion

More than 5.6 billion cedis is to be distributed to five regions classified as poor by the Ghana Poverty Reduction Strategy under the Micro Finance Programme of the Economic Sector Reform Programme.

The Upper East, Upper West, Northern, Eastern and Central Regions - considered the five poorest regions in the country would receive the total amount of 5.670 billion cedis for micro enterprise activities in the areas of food production and agro-processing.

A release from the Ministry of Economic Planning and Regional Co-operation, signed by the Sector Minister Dr Paa Kwesi Nduom, gave the breakdown of the amount for each region and number of districts as follows:

Northern Region - 1.6 billion cedis, with 12 districts; Upper East - 800 million cedis with six districts; Upper West Region - 600 million cedis with five districts; Eastern Region - 1.37 billion cedis with nine districts and Central Region - 1.3 billion cedis with 12 districts.

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The release said the allocations would supplement earlier disbursements to a number of districts in the country.

Funds under the programme are to be applied to areas of activity that need the support and can register observable impacts in reducing levels of poverty.

Implementing institutions would follow a number of guidelines in selecting the beneficiaries and identifying enterprises to be given support.The institutions would also be required to guarantee the payment of all funds they disburse as has been with the practice with all ESRP micro-finance activities.

More than 500 operators are expected to benefit from the intervention.

Source: Accra Mail
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