The government has received a $180 million credit facility from the Indian Exim bank to support the setup of the agriculture mechanization service centres as well as an upgrade of water systems in Yendi.
The signing of the credit facility was undertaken by the Minister for Finance, Agriculture and Deputy Minister for Sanitation and the Indian High Commissioner to Ghana.
He said, "The extension of credit was part of a South-South corporation where India seeks to support emerging economies in Africa and Ghana particularly in areas of development aid, trade and foreign direct investment.
Minister for Food and Agriculture Dr Afriyie Akoto said, the credit facility extended would contribute hugely to the setup of the Agriculture Mechanization centres, he said currently his outfit had taken receipt of some 230 tractors soon to be distributed to the various districts.
He added that by boosting agriculture, he hoped to encourage more import substitution of food items as well as begin export of food to other nations.
Deputy Minister for water and sanitation Patrick Y Boamah explains the contract is still being finalized and is expected to be launched in about five weeks time.
Meanwhile the Finance Minister, Ken Ofori Attah has assured of prudent management of the funds to achieve the desired gains.
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