The Board of Directors of the Export Trade, Agricultural and Industrial Development Fund (EDAIF) has approved GH¢₵57.1 million in grants and credit to 28 businesses in the country in June and July, this year.
The beneficiaries included 15 small-holder cooperatives and associations, eight companies and five public institutions in the export trade, agriculture and industrial sectors.
A statement issued to the Daily Graphic in Accra said a grant facility of GH∞₵48.5 million was approved in support of government’s initiatives and interventions in different sectors of the economy.
Major among these was an approval of GH¢₵21.7 million towards expanding local rice production.
Shea butter cultivation in Northern Ghana also benefitted, having received GH¢₵3.43 million, the statement said.
Other activities that received approval were; GH¢₵6.37 million for the establishment of the Ghana Commodities Exchange and GH¢₵2.88 for the cultivation of kenaf plant by small holders to serve as raw material for the manufacture of jute sack in the country.
Part of the funds was also disbursed for honey production, oil palm processing, fish production and production of organic fertiliser.
Under the disbursement, the statement said two firms would receive a total of GH¢₵8.4 million in loans to support the processing of oil palm and the manufacture of footwear.
The EDAIF support for small-holder associations and cooperatives is in line with government’s commitment to enhancing the productive capacity of the small and medium scale enterprises.