Mrs Stephanie S. Sullivan, United States Ambassador to Ghana, has joined Vice President Dr Mahamudu Bawumia, to outdoor a new US Government food security strategy.
The US Global Food Security Strategy for Ghana (GFSS), a five-year interagency effort aims at increasing agricultural productivity, improve nutrition, and raise household incomes for millions of Ghana’s agricultural workers.
A statement issued by the US Embassy in Accra, copied to the Ghana News Agency, said the first activity was expected to attract $261 million in private sector financing to boost Ghanaian agribusiness.
It said Dr Owusu Afriyie Akoto, Minister of Food and Agriculture, also attended the virtual launch along with representatives of financial, agricultural, government, and private sector stakeholders.
It said under the GFSS, the US Agency for International Development (USAID) was committing $19 million to support the initial activity, known as Feed the Future Ghana “Mobilizing Finance in Agriculture” (MFA).
The MFA activity, which will run for four years, seeks to increase access to agricultural finance in select staple and commodity value chains such as maize, groundnuts, shea, soy, mango, cashew, and other high-value export commodities.
The statement said the initiative would focus on facilitating transactions among buyers and sellers of the commodity crops and promoting exports.
Mrs Sullivan said the new programme was within the framework of the US and Ghana’s long-standing partnership to improve food security, increase trade and investment flows, and support resilient and inclusive economic growth.
“The US Government reaffirms its commitment to assist Ghanaians to achieve self-reliance by helping businesses reap higher revenues and by strengthening trade between Ghana and the United States,” she stated.
“With the ability to access loans at lower affordable rates, micro, small, and medium agricultural enterprises, including women- and youth-owned businesses will be able to grow their businesses, expand into new markets, create good jobs, and export their goods.”
The statement said the MFA activity would mobilize investment for Ghana’s agricultural sector to become an engine of sustainable growth, self-reliance, and shared prosperity.
It would work to connect financial institutions, business advisory service providers, and agricultural enterprises, providing access to strategic partnerships, technical support, and smart incentives to help financing flow to where it was most needed and help more Ghanaians thrive.
Feed the Future is the US Government’s initiative to end global hunger.
Led by USAID and driven by collaborative partnership across public and private sectors, including 11 US Government agencies, Feed the Future addresses the root causes of poverty and hunger.
This is done by boosting inclusive agriculture-led economic growth, resilience, and nutrition in countries with great need and opportunity for improvement.
USAID is the lead US Government agency that works to end extreme global poverty and enable resilient, democratic societies to realize their potential.
USAID’s activities and strategic partnerships support Ghana’s journey to self-reliance and advance an integrated approach to development.
USAID promotes accountability, sustainable systems, and inclusive development.