The Indian High Commissioner to Ghana, H.E Birender Singh Yadav, has announced the Indian government’s commitment towards offering US$150 million grant to Ghana for agriculture mechanization purposes.
The grant, the High Commissioner disclosed, will be made available upon the approval of Parliament in collaboration with relevant agencies.
The offer is part of a holistic arrangement which also targets the provision and sourcing of agricultural equipment from India and the setting up of agro-processing companies in the country.
“The decision for approval lies with Parliament in regard to the time to sanction it, whether before the end of year, or early next year. For us, we are ready to sign the agreement with the Ghana government any time,” Singh Yadav told the Goldstreet Business at the 2018 ‘Ghana – India Business Meet Forum’ in Accra.
The Finance Ministry, on behalf of the government of Ghana, is expected to sign the agreement with the Indian government.
The Ministry of Agriculture and the Finance Ministry will then sign an agreement with the EximBank, to enable it to manage the fund on behalf of the Ghanaian government.
The High Commissioner said India has been collaborating with the country on many fronts; notable among such is relationships in key sectors including ICT, technology and innovation, telecommunication and transport.
“What we want to do is to offer more in whatever capacity we can, to keep this collaboration on a good note always,” he said.
The Second Deputy Majority Chief Whip in Parliament, Mr. Ibrahim Ahmed, addressing both the Ghanaian and Indian business communities, said “it is refreshing that India has decided to support the country in the agricultural front.
“We need strong investments especially in our cashew and other crops. What we want to see is industries that process the cashew nut and the fruit right here. That will give our farmers some advantage” he said.
The India Ghana Business meet event is an initiative which aims at enriching bilateral relations and trade for mutual growth between the two countries.
The event paved the way for the upcoming multi-sectorial business exhibitions from over 40 companies from India in September this year.