First published in the Tropical Timber Market Report
Suleimana Nyadia, deputy chief executive in the Forestry Commission, has urged Ghanaians to adopt a positive attitude towards the environment by developing the habit of planting trees, in order to recover the country’s degraded lands and forest cover.
Nyadia made this point during a regional tour to assess preparedness for a nationwide tree planting exercise dubbed ‘Green Ghana’ set to begin on the 11th of June when 5 million trees are expected to be planted.
The ‘Ghana Green’ project is supplementary to the Ghana’s Youth Afforestation Programme launched three years ago.
The European Union (EU) has provided Ghana with a Eur170-million facility to be utilised by the soon to be operational Development Bank Ghana (DBG).
The agreement on the financial support was signed by the Ministry of Finance and the European Investment Bank. At a press briefing the Minister of Finance, Ken OforiAtta, clarified the DBG will provide loans for operators in economic sectors that support the economy.
The Minister further hinted that the establishment of DBG would contribute to reduction in interest rates for Ghanaian businesses from the current 18%. The DBG pivots on the GH¢100-billion Ghana Cares ‘Obaatampa’ Project mentioned in the President’s State of the Nation Address.
Ghana’s forestry sector contributes about 6% to GDP and provides a livelihood for about 15% of the population. It is the expectation that businesses and timber-manufacturing industries would greatly benefit from the loan facilities of the DBG.
<caption> Quick action is especially critical as Ghana’s forests continue to be rapidly depleted.Photo by Tropical Timber Market Report