National Agriculture Insurance Fund expected to take off in third quarter

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Operationalisation of the National Agriculture Insurance Fund is expected to take off by the close of the third quarter of this year.

The Fund is a mitigating intervention mechanism to provide a certain percentage of insurance premium to cushion farmers to access such facilities.

The fund is expected to benefit small holder Farmers and women especially, to withstand climatic events and disasters which often left devastating effects on farmers.

Mr Yunus Abdulai, the Country Lead of Policy LINK, disclosed this at the closing ceremony of a five-day training workshop for the 2023 national farmers day women award winners to build their capacities in the agriculture sector.

The 25 participants who were awarded during the 2023 farmers day celebration including the National best farmer, Madam Charity Akortia were taken through leadership and women empowerment topics to enhance their farming activities.

Mr Abdulai said the Act establishing the fund had been in place for some time now but not operational.

He said Policy LINK and other allied partners were presently working on the Act to design a framework, define the modalities, governance structure and criteria of crops to be targeted for the premiums.

He said his organisation was poised to support the government of Ghana to improve the conditions of farmers by providing technical and logistical support such as hiring of consultants to meet the third quarter deadline goal set.

One of the major challenges faced by small holder Farmers and those involved in primary production in the agriculture sector in Ghana has been lack of finance and support from the banks in terms of loan facilities due to high risks of losses as well as insurance covers.

Mr Yaw Frimpong Addo, a Deputy Minister of Agriculture in charge of Crops said women produced about 70 per cent of Ghana’s food basket, therefore the Ministry was focused on programmes and projects that would improve the lots of farmers especially women and smallholders.

He commended Policy LINK for instituting the annual capacity building workshop and other support systems for women farmers awardees and the setting up of the Ghana Association of Female Agriculture and Fish Farming Award Winners (GAFAFAW).

By Bertha Badu-Agyei, GNA

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