The Minister of Finance, Mr. Cassiel Ato Forson, has officially sealed a $9.5 million grant agreement with the Korea International Cooperation Agency (KOICA), marking a significant step toward bolstering the agricultural business value chain and stimulating local economic development in Ghana. This five-year initiative, funded under KOICA’s Official Development Assistance (ODA) framework, is strategically designed to improve processing capabilities, strengthen market systems, and forge crucial linkages between local farmers and various agricultural enterprises. It aims to unlock the sector’s potential as a powerful catalyst for innovation, job creation, and sustainable rural progress.
The National Development Planning Commission (NDPC) is tasked with the implementation of this vital project across the Central and Volta Regions, with support from key partners including the Ministry of Food and Agriculture and the Ministry of Trade, Agribusiness and Industry. These combined efforts are expected to yield a significant boost in food production within the targeted regions. The grant signing ceremony, held in Accra, saw the Country Director of KOICA-Ghana, Mr. Donghyun Lee, sign on behalf of the Korean agency, while the Acting Director General of NDPC, Dr. Audrey Smock Amoah, represented the commission.
Speaking at the event, Minister Forson extended gratitude to the government of Korea, emphasizing that the grant would be instrumental in significantly reducing harvest losses, enhancing overall agricultural productivity, and boosting trade, particularly in Ghana’s rural areas, thereby improving farmers’ livelihoods. He further highlighted that the funding would strengthen institutional and policy capacity, noting the government’s proactive steps, such as the purchase of excess rice production, to encourage local farmers. Mr. Forson underscored the project as a continuation of KOICA’s steadfast support for Ghana’s national development agenda, focusing on inclusive economic growth, agricultural modernization, and local value addition, and commended the NDPC for its crucial coordinating role.
The Republic of Korea Ambassador to Ghana, Mr. Kyonsig Park, drew on his nation’s own history, noting that Korea’s development trajectory demonstrates how targeted investments in agriculture and value chain development can successfully spur broader industrial and social advancement. He expressed confidence that the partnership, which marries Ghana’s abundant agricultural potential with Korea’s technical expertise, is set to deliver tangible, long-term economic benefits to communities nationwide. Dr. Audrey Smock Amoah echoed this sentiment, stating the project’s perfect alignment with the government’s core priorities of agricultural modernization, local economic development, and job creation, reaffirming agriculture’s status as a strategic pillar for the nation’s economic transformation.
The project partners collectively reiterated their commitment to ensuring that Ghana’s agricultural wealth is successfully translated into sustainable livelihoods, thriving enterprises, and robust local economies. This initiative is positioned to strategically enhance productivity, mitigate significant post-harvest losses, elevate rural incomes, and solidify both food and nutrition security across the country.
