Gov't Gets ADB's $20m Forestry Grant

The African Development Fund (ADF), an institution of the African Development Bank (ADB) Group and the Government of Ghana have signed two agreements amounting to $20 million (an equivalent of14.5 million Units of Account) for the financing of forestry and rural agro-enterprise projects in the country.

A statement from the ADB, which disclosed this, confirmed that, the ADB's Vice President in charge of West and Central Operations, Mr. Bisi Ogunjobi, and Ghana's Ambassador to Morocco, Mr. Kobina Annan, signed the agreements at the Bank's Temporary Relocation Agency (TRA) in Tunis on Wednesday.

According to development finance institution, "approximately US$9.5 9million 9will go to the Community Forestry Management Project while US$10.5.9 million will be devoted to the Agri-based Rural Enterprise projects, bringing the total to US$ 20 million."

The bank noted that the community forestry management project will seek to contribute to the Ghana Government's efforts to reduce poverty and achieve food security for the rural poor. Specifically, ADB added, the project, which will directly benefit 6,000 families, will focus on small-scale plantation investors and involve the participation of communities living in degraded areas, in the management of forests and establishment of plantations.

On the other hands, ADB said, the agri-based rural enterprises project aims to develop thriving and profitable rural enterprises in 64 districts.

"The activities under the project include skills training, entrepreneurship development and business management. It will also contribute to the improvement of access for the poor to rural financial services.