ADB disburses GHS23 million to poultry farmers to reduce chicken importation

The Agricultural Development Bank (ADB) has disbursed a loan facility of about GHC23 million to poultry farmers in Ghana, specifically in the Bono Region.
The move is to increase chicken production and cut out its imports in the country.
It was presented to them at the ADB Poultry Value Chain Stakeholders meeting held in Accra today.
The importation of chicken into the country has seen consistent increase over the years.
In 2018, Ghana imported 511,960 broiler day-old chicks and 7,130,999 layer day-old chicks (source GPP).
According to Animal Production Directorate of MoFA, Ghana imports 240,000 MT of Meat, that is Chicken, Beef and others to make up for its meat deficit costing the country over USD375 million annually
The national demand for poultry meat alone is about 400,000MT with local production of just about 57,871, an indication that imports of poultry meat of about 180,000Mt still leaves a shortfall of 162,129 MT
In the 2019 budget presentation, the Finance Minister, Mr Ken Ofori-Atta, revealed that the country spent $374 million to import poultry meat every year.
Speaking at the ADB Poultry Value Chain Stakeholders meeting, the Managing Director of ADB, Dr John Kofi Mensah noted this puts enormous pressure on the limited forex expected to be used for the importation of essential goods and services and negatively impact the foreign exchange rates.
He also noted that Government is strategizing to reduce import through the instrument of quotas to create supply gap to be filled locally.
The Agricultural Development Bank, Dr John Kofi Mensah said is taking a lead in partnering government in its quest to revitalize the local broiler industry.
“To prepare the local poultry industry towards filling the yawning gap, the Bank is embarking on broiler value chain financing concept with projects to be replicated in six regions namely Bono, Ashanti, Greater Accra, Eastern, Western  and Central Regions,” the MD said.
He explained that the Value Chain approach is being used to ensure efficient utilization of the Bank’s investments.
“Under this approach viable value chain players are identified, linked and financed to undertake particular activities in the broiler value chain,” he said.
For a start, Dr John Kofi Mensah confirmed that the Bank has approved a total facility of GHS 23,160,319.03 in favour of six broiler value chain players to produce and process a total of 108,000 birds per week to serve the local market.
He also stated that the beneficiaries will not pay more than 10 percent of the loan.
He also stated that although the first phase is beginning at Bono region, it will be extended to other regions hopefully by the third quarter of the year starting from Ashanti Region, then the Eastern Region to the Central, Greater Accra and then the Western Region.
Like every tree has a branch, he said the project might extend to other regions when it becomes successful with its first phase.
Meanwhile, touching on monitoring and evaluation, he said there will be a Monitoring and evaluation Stakeholders meeting on a quarterly basis.
Dr John Kofi Mensah advised beneficiaries to put the loan facilities into good use, adding that those who do not will be taken off the chain.
For his part, Speaking on behalf of the beneficiaries, the Member of Parliament for Dormaa East, William Kwasi Sabi expressed appreciation to ADB for the support.
He assured the bank they will ensure that the facility is put into good use, calling on ADB to continue supporting them.

Ghana| Atinkaonline.com| Porcia Oforiwaa Ofori