Ghana, through the Ministry of Finance, has welcomed the signing of the Record of Discussion between the Government of Ghana, the Korea Development Assistance and the Korea International Cooperation Agency (KOICA) on the Strengthening of Agribusiness Value Chains for Local Economic Development in Ghana as a significant milestone.
Delivering a statement at the signing ceremony held on Tuesday, November 18, 2025, the Minister of Finance, Dr Cassiel Forson, expressed his appreciation to the Government of Korea, KOICA and the National Development Planning Commission (NDPC) for the strong collaboration that enabled the agreement.
Dr Forson highlighted that the US$9.5 million grant project will reduce post-harvest losses, enhance productivity, create jobs, and strengthen institutional capacity. This will be supported by the construction of processing centres and extensive training for farmers, extension officers and MSMEs.
He further reaffirmed the Ministry of Finance’s commitment to facilitating all required tax exemptions under the Exemptions Act, providing budgetary support, ensuring effective oversight and working closely with KOICA and NDPC to guarantee smooth implementation.
The Director-General of NDPC, Dr Audrey Smock Amoah, emphasised that strengthening agribusiness value chains is essential for boosting productivity, reducing post-harvest losses and improving food and nutrition security.
She described the revival of the project as timely and aligned with government priorities in agricultural modernization, job creation, and local economic development.
Dr Amoah added that the partnership stands as a model for integrated, agribusiness-led development that will benefit farmers, local enterprises and communities across the country.
She further expressed deep appreciation to KOICA for its longstanding support to Ghana, noting that NDPC has benefited from capacity building, knowledge exchange and project support over the years.
Korean Ambassador Park Kyonsig reaffirmed Korea’s strong commitment to Ghana’s economic transformation, describing the US$9.5 million project as an important step in deepening development cooperation between the two countries.
He stated that the initiative will strengthen agribusiness value chains by improving processing, market systems, and linkages between farmers and enterprises, thereby supporting innovation and rural development.
Drawing on Korea’s own development experience, he expressed confidence that combining Ghana’s agricultural potential with Korea’s technical expertise will yield long-term benefits.
He commended the Ministry of Finance, NDPC and KOICA Ghana for their close collaboration, calling their efforts a true demonstration of partnership.
The project will be implemented in the Volta and Central Regions, with the Ministry of Food and Agriculture (MoFA) and the Ministry of Trade, Agribusiness and Industry (MoTAI) playing key roles.
NDPC will coordinate implementation, while KOICA provides oversight to ensure the project delivers lasting and meaningful impact.
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