Credit: Eugene Nyarko Jnr. l Accra
Ghana has marked a major step forward in its agricultural modernization agenda with the signing of a Record of Discussion (RoD) 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 project.
The signing ceremony, held on Tuesday, November 18, 2025, was witnessed by the Minister for Finance, Dr. Cassiel Ato Forson, who described the agreement as a significant milestone in Ghana–Korea development cooperation. He expressed gratitude to the Government of Korea, KOICA, and the National Development Planning Commission (NDPC) for the collaborative effort that brought the initiative to fruition.
Dr. Forson announced that the US$9.5 million grant project is expected to reduce post-harvest losses, improve productivity, create employment, and strengthen institutional capacity across key agricultural value chains. The project includes the construction of processing centres, as well as training programmes for farmers, extension officers, and micro, small and medium enterprises (MSMEs).
He reaffirmed the Ministry of Finance’s readiness to facilitate tax exemptions under the Exemptions Act, provide budgetary support, and ensure effective oversight to guarantee smooth implementation.
The Director-General of the NDPC, Dr. Audrey Smock Amoah, welcomed the initiative, emphasising that strengthening agribusiness value chains is critical to boosting productivity, reducing post-harvest losses, and enhancing food and nutrition security. She described the revival of the project as timely and consistent with national priorities in agricultural transformation, job creation, and local economic development.
Dr. Amoah noted that the partnership represents a model for integrated, agribusiness-led development with long-term benefits for farmers, local enterprises, and communities. She also expressed appreciation to KOICA for its longstanding support to Ghana, particularly in capacity building and knowledge exchange.
Korean Ambassador to Ghana, Park Kyonsig, reaffirmed Korea’s commitment to supporting Ghana’s economic transformation. He described the US$9.5 million project as a significant step toward deepening development cooperation between the two countries. According to him, the initiative will help improve processing, market systems, and linkages between farmers and agribusinesses, thereby promoting innovation and rural development.
Drawing from Korea’s own agricultural success story, Ambassador Park expressed confidence that combining Ghana’s agricultural potential with Korea’s technical expertise will yield sustainable long-term gains. He commended the Ministry of Finance, NDPC, and KOICA Ghana for their coordinated efforts, describing the collaboration as a true example 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) serving as key implementing partners. NDPC will lead coordination efforts, while KOICA provides technical oversight to ensure the project delivers lasting impact.
