Government of Ghana has obtained $7million loan facility from the International Development Association (IDA) to support private sector investment in the forestry and wildlife development with the ultimate objective of protecting the natural forest.
This was disclosed by the Deputy Minister of Lands Natural Resources, Benito Owusu- Bio during the launch of the Forest Industry Association of Ghana (FIAG).
Hon. Benito Owusu-Bio noted that the facility which will soon be made available to the investors forms part of government’s initiative of promoting private sector involvement in the preservation of Ghana’s forest reserves
He urged members of FIAG to apply for the facility when it is made available to the investing public.
“As parts of efforts to stimulate private sector investment in small scale commercial forest plantations, the Ministry through the Forest Investment Porgramme (FIP) has secured a $7million loan facility at a concessionary rate to be disbursed very soon. I hope your members will apply for this facility when it is advertised to build your raw material bases,” he said.
The Deputy Minister also reiterated the resolve of government to safeguarding the forest and wildlife resources of the country for future generations.
