EDAIF disburses GH¢300m

By Kizito CUDJOE, Kumasi

The Acting Chief Executive the  Export Development and Agricultural Investment Fund (EDAIF), Dr. Abdul-Nashiru Issahaku, has disclosed that about GH¢300million has so far been disbursed by his outfit to 765 projects and beneficiaries across the country as part of its operations.

Speaking to the press as part of a ‘Regional Stakeholders Townhall Meeting’ organised in Kumasi, Dr. Issahaku observed that though his outfit has made some remarkable progress since its inception in 2001 to date, there is still more to be achieved if more people are well-informed about EDAIF and its operations; hence the initiative to embark on a ‘road-show’ nationwide to  draw closer to potential beneficiaries and educate them on its operations and the latest development -- to include  the provision of financial resources for the development and promotion of agriculture relating to agro-processing and agro-processing industries.  

The acting Chief Executive noted that his outfit is challenged to expand the human resource capacity, enabling it to respond to the increasing volume of applications that come before them.  However, the bigger challenge, he lamented, is getting more people to learn about the facility and apply for it.

The Export Development and Investment Fund (EDIF) was established by Act 582 in 2000 to provide financial resources for the development and promotion of export trade in Ghana.

However, by the Export Development and Agriculture Investment Fund Act 823 of 2011, Act 582 was amended to include the provision of financial resources for the development and promotion of agriculture relating to the agro-processing industry.

It is in view of this amendment that the Fund is now known as the Export Development and Agricultural Investment Fund (EDAIF), expanded to cover public and private sector stakeholders in the agriculture and agro-processing sector among others.

The idea to expand the facility to cover agro-processing and agro-processing industries, it is believed, will go a long way to promote the consumption of locally-produced agricultural products; encourage to a higher extent value addition to agriculture produce for export; enhance the operations and livelihood of industries and farmers in agro-processing; and as well limit the importation of agriculture produce into the country.

In a country where accessing of funds -- especially by SME’s -- is considered largely as an impossibility basically because of the forms of high-handed security requirements one maybe asked to satisfy before being offered the needed assistance, the facility appears to offer a rather modest form of security through Eximguaranty Company Limited.

Funds under the facility are made available to applicants through designated financial institutions (DFI’s) at lending interest rates which are subject to periodic review.

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