According to him, it’s about time the Ghanaian youth took their destiny into their hands and veer into private enterprises, especially farming.
About 540,000 jobs are to be created under the program. The project is expected to increase smallholder incomes on a sustainable basis by empowering the youth with equipment and incentives.
“We want to say that agriculture provides the best entry point for safe employment and it is in recognition of this that government continuous to provide various opportunities and various funding in other to support many of our young people,” Mr Kwetey noted.
The project which is a Government of Ghana and the International Fund for Agricultural Development initiative will run for six years.
Basic programme costs over 6 years, including contingencies, taxes and duties, are estimated at US$ 113.0 million or the equivalent of GHS 297.9 million. A total of US$ 71.6 million of IFAD funding will be mobilized for the first 6 years (2 cycles).
GASIP will absorb the entire PBAS allocation of US$ 36.6 million of the 2013-2015 PBAS allocation for Ghana under concessional lending terms, as well as US$ 10 million ASAP grant funding for climate change adaptation activities. Subject to availability and implementation performance, additional financing of US$ 35 million will be earmarked from the 2016-2018 PBAS cycle.
Government of Ghana will finance taxes and duties on imported goods, and Value Added Tax (VAT) for a total amount of US$ 7.6 million. The PFIs are expected to provide credit of at least US$ 17.5 million. Contribution in cash or kind of beneficiaries is estimated at US$ 4.6 million, that of the District Assemblies at US$ 1.7 million.