KOICA Grants Ghana $9.5M to Strengthen Agribusiness Value Chain
The Minister of Finance, Mr. Cassiel Ato Forson, has signed a $9.5 million grant with the Korea International Cooperation Agency (KOICA) to strengthen the agricultural business value chain for local economic development in Ghana.
The five-year project is expected to improve processing, market systems, and linkages between farmers and enterprises, thereby unlocking the potential of agriculture as a catalyst for innovation, job creation, and sustainable rural development.
Funded under KOICA’s Official Development Assistance (ODA), the project will be implemented by the National Development Planning Commission (NDPC) to ensure success in the Central and Volta Regions. Other agencies, including the Ministry of Food and Agriculture and the Ministry of Trade, Agribusiness and Industry, are partners in the project, which is expected to boost food production in these regions.
The Country Director of KOICA-Ghana, Mr. Donghyun Lee, signed on behalf of KOICA, while the Acting Director General of NDPC, Dr. Audrey Smock Amoah, signed for the commission.
Speaking at the signing ceremony in Accra, Mr. Forson thanked the government of Korea for the grant, noting that it would significantly reduce harvest losses, enhance agricultural productivity and trade, particularly in rural areas, and improve farmers’ livelihoods. He added that the grant would strengthen institutional and policy capacity, stressing that the government has already taken steps to purchase excess production, such as rice, to encourage farmers.
Mr. Forson further highlighted that the signing represents another step in KOICA’s ongoing support for Ghana’s national development agenda, particularly in promoting inclusive economic growth, agricultural modernisation, and local value addition. He commended NDPC for its role as the implementing agency and for coordinating extensively with KOICA and the Ministry of Finance during the project’s development.
The Republic of Korea Ambassador to Ghana, Mr. Kyonsig Park, noted that Korea’s own development experience demonstrates how strategic investments in agriculture and value chain development can spur broader industrial and social progress. He expressed confidence that combining Ghana’s agricultural potential with Korea’s expertise would yield tangible, long-term benefits for communities across the country.
“KOICA is honoured to collaborate with Ghana in realising this important initiative. As we sign this project, we reaffirm our collective commitment to ensuring that Ghana’s agricultural wealth translates into sustainable livelihoods, thriving enterprises, and strong local economies,” he said.
Dr. Audrey Smock Amoah remarked that the project was timely and aligned with the government’s priorities in agricultural modernisation, local economic development, and job creation. She reiterated that agriculture remains a strategic pillar of Ghana’s economy and a key driver of transformation, adding that strengthening agribusiness value chains would enhance productivity, reduce post-harvest losses, improve rural incomes, and ensure food and nutrition security.
BY BERNARD BENGHAN
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