Rural Development Fund Launch

Kwasi Doi (Eastern Region) -- The government has launched a Rural Development Trust Fund to provide a supplementary source of funding for sustainable development of the rural areas.

President John Agyekum Kufuor launched the Fund at a durbar of chiefs and people at Kwesi Doi near Nsawam in the Akwapim South District. Monies accruing from the Fund, which is a private sector-led initiative, would complement the District Assemblies Common Fund to accelerate the development.

Well-meaning Individuals, Corporate bodies and Non-Governmental Organisations that had the welfare of the rural communities at heart were expected to contribute to the fund, which would be operated along business lines.

The Fund, which would be managed by a Board of Trustees, would be administered by a secretariat headed by a Fund Administrator. It would release funds for projects such as schools, hospitals, clinics, roads, potable water, electrification projects, cottage industries and agro-processing.

The ministry of local government and rural development would monitor the disbursement of the fund while the district assemblies would implement all funded projects being carried out by the Fund.

Edward Boohene, Chairman of the Fund said about 2bn cedis had already been realised in pledges for the fund since its inception about a year ago adding that it was a high hope of ensuring equitable development in the rural communities.

Kwadwo Baah-Wiredu said the Fund would enable government adequately meet the development needs of about 60 per cent of the country's population, most of whom lacked good roads, electricity and good water.

A ten-member board of trustees under the chairmanship of Edward Boohene was introduced to the people.