ADB Bank recently provided a loan facility of GH¢50 million to the National Food Buffer Stock Company (NAFCO) to purchase grains for onward delivery to government senior high schools, as well as other state institutions.
The loan is also to enable NAFCO mop up excess produce from farmers to reduce post-harvest losses resulting from poor storage.
The amount is the first tranche of about GH¢200 million earmarked by the bank to support actors in the agricultural value chain in the country.
Last year, ADB provided the company with a loan of GH¢20 million to purchase grains from farmers under the PFJ programme.
Managing Director of ADB, Dr John Kofi Mensah, explained that this year the amount was increased because “NAFCO performed creditably and paid up the facility on schedule”.
Daily Guide Africa