The National Insurance Commission (NIC) is spearheading the development of agricultural insurance for farmers through the Ghana Agricultural Insurance Pool (GAIP), Finance Minister, Ken Ofori-Atta, has announced to parliament on Thursday, November 24, 2022.
GAIP provides traditional agricultural insurance and index-based weather insurance products to commercial farmers and small-holder farmers.
Presenting the 2023 budget, Mr Ofori-Atta said: “An estimated USD$400 million in agricultural insurance will be extended to eligible farmers in 2023”.
The presentation of the budget in parliament is in pursuance of the Public Financial Management Act, 2016 (Act 921).
This allows the Finance Minister to review the budget statement and economic policy of the government and supplementary estimates for the 2023 financial year.
- Government intends to increase consumption taxes in 2023 budget - Bright Simons hints
- FULL TEXT: Senyo Hosi's open letter to President Akufo-Addo on Ofori-Atta's removal
- FULL TEXT: Senyo Hosi's open letter to Akufo-Addo on Ken Ofori-Atta's removal
- 2023 budget will focus on restoring and stabilizing the economy – Finance Ministry
- 2023 budget: Cut ministers to 30, reduce your staff by 50% - Kofi Bentil tasks Akufo-Addo
- Read all related articles