The Managing Director of Agricultural Development Bank (ADB) PLC, Alhaji Alhassan Yakubu-Tali says the Bank will continue to support government interventions aimed at enhancing agricultural productivity, improve food security and engender industrialization and wealth creation through agriculture.
He said ADB has in the past eight years strengthened its resolve to maintain its commitment to its founding mandate by increasing funding to the agricultural sector.
“The Bank’s investment in agriculture has seen a steady growth with total agricultural loan stock increasing from GHS453.20 million in 2016 to GH1.41 billion as at October 2024. This figure excludes non-funded facilities such as letters of credits and guarantees granted for the purchase of agricultural inputs, machinery, equipment and raw materials,” he said.
He made the disclosure at the 15th National Farmers Forum in Accra.
The ADB Managing Director noted that the forum’s theme, “Building Climate-Resilient Agriculture for Sustainable Food Security,” emphasized the bank’s commitment to supporting climate-resilient practices and innovations to ensure food security.
“The theme for this year’s celebration is very appropriate as it highlights the need for the state and citizenry to commit to adopting better agricultural practices that address the growing challenges posed by climate change and expand productive capacity to enhance food security,” he added.
Alhaji Yakubu-Tali stated that the event’s focus on climate-resilient agriculture reflects a growing recognition that food security and economic stability are interwoven, adding that it also reinforces Ghana’s commitment to the UN Sustainable Development Goals (SDG) 2, which aims to end hunger, achieve food security, and promote sustainable agriculture. “We need a robust agricultural system that empowers farmers, ensures food security, and supports economic growth”.
He noted that the Bank is in collaboration with the Ministry of Food and Agriculture and other stakeholders on the ongoing implementation of the second phase of the Planting for Food and Jobs (PJF2) that seeks to replace the input subsidy program with a smart input credit regime.
The General Manager in charge of Agribusiness, Mr. Kwame Asiedu Attrams, reaffirmed the bank’s commitment to supporting Ghana’s agriculture sector with its sponsorship of the prestigious ultimate award of GHS1 million to the National Best Farmer among many other supports including the National Welcome Cocktail, the Farmers Forum among others.
Over the last 15 years, Mr. Attrams, explained that the National Farmers Forum has afforded the opportunity to bring players within the Agricultural value chain together to deliberate on pressing issues within the value chain and offer workable solutions for the betterment of the sector.
“The 15th National Farmers Forum is a testament to ADB’s sustained support for Ghana’s agriculture sector, reinforcing its role as a leader in agribusiness financing and a dedicated partner in the nation’s pursuit of food security, sustainable farming practices, and economic resilience,” he added.
Mr. Attrams urged the 2024 National Best Farmers awardees to incorporate the climate-resilient practices discussed at the forum in their own agribusiness operations in furtherance of achieving a climate resilient agribusiness ecosystem.
The National Farmers Forum is an annual event which brought together farmers, policymakers, government officials, agricultural experts, financiers, the 2024 National Best Farmer Awardees, and other stakeholders to discuss strategies for overcoming climate challenges that threaten food security.
The event assembled key stakeholders in a panel discussion session aimed at deepening national conversation on climate-resilient agriculture and sustainable food security in the Ghana.