The government is ramping up its efforts to combat the potential food insecurity crisis caused by the ongoing dry spell in the Northern and Middle Belts.
Measures include mobilizing funds, enacting a temporary ban on grain exports, and prioritizing grain imports.
Finance Minister Dr. Mohammed Amin Adam announced the acquisition of a $1 million insurance policy to shield smallholder farmers in the northern region from future droughts. This policy will provide a $5 million payout in the event of a drought.
He said, “The government has purchased an insurance policy against future drought in the northern region. We have purchased an insurance policy by which we are paying the premium of one million dollars and the payout will be five million dollars when we experience such drought, and this will cover smallholder farmers in the northern region.”
Minister for Food and Agriculture Bryan Acheampong defended the government’s decision to withdraw GHS 500 million from the contingency fund, explaining how it will be utilized as part of the total GHS 8.3 billion required.
The funds will be used for purchasing seeds and fertilizers, providing feed grants, implementing cash transfers, importing rice and maize, and supplying poultry feed.
The Chair of the Finance Committee of Parliament, Patrick Boamah, guaranteed that the funds would be approved without delay once the release criteria are satisfied, notwithstanding the concerns expressed by the Minority.