ADB Gives GH¢50m Loan To National Food Buffer Stock Company (NAFCO)

Date:

ADB Bank recently provided a loan facility of GH¢50 million to the National Food Buffer Stock Company (NAFCO) to purchase grains for onward delivery to government senior high schools, as well as other state institutions. 

The loan is also to enable NAFCO mop up excess produce from farmers to reduce post-harvest losses resulting from poor storage.

The amount is the first tranche of about GH¢200 million earmarked by the bank to support actors in the agricultural value chain in the country.

Last year, ADB provided the company with a loan of GH¢20 million to purchase grains from farmers under the PFJ programme. 

Managing Director of ADB, Dr John Kofi Mensah, explained that this year the amount was increased because “NAFCO performed creditably and paid up the facility on schedule”.

A business desk report

Share post:

Subscribe

Popular

EC sets May 13 for Nkoranza North and South district elections

The Electoral Commission (EC) has set Tuesday, May 13,...

GRA takes tax education to markets as part of GH¢360 billion revenue drive

The Ghana Revenue Authority (GRA) has intensified its public...

Robert Francis Prevost, who has taken the name Leo XIV, elected new pope

Habemus papam. White smoke erupted from the chimney atop...

Italian Government to provide grant to Support Cocoa Sector 

The Italian government is to provide a grant to...

More like this
Related