Flagbearer hopeful of the New Patriotic Party (NPP), Dr. Owusu Afriyie Akoto, has revealed that he personally approached the World Bank to secure funding for the Tree Crop Development Authority (TCDA). Recognizing the immense potential of the TCDA's revenue base and its potential to positively impact Ghana's economy, Dr. Afriyie Akoto took the initiative to seek external financial support.

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He explained that his proactive approach was motivated by the slow pace at which the government was disbursing the allocated seed money of $5 million per year for the first three years of the TCDA's establishment, resulting in a total of $15 million. However, during the initial three-year period, only $3 million had been disbursed to the Authority, which proved to be insufficient for its operational needs.

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The TCDA was established under the Act of Parliament, 2019 (Act 1010), with the mandate to develop and regulate the tree crop sub-sector and address related matters. As part of this mission, the TCDA is driving the Tree Crop Diversification Project (TCDP).“As we speak, only US$ 3 million has been disbursed to promote the objectives of the Tree Crop Development Authority.

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While the slow disbursement of the seed money was going on, I engaged the World Bank to see how best they can assist us. So, they saw my vision that this is something that can easily make Ghana a prosperous country if we just took care of that particular Authority.

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So, the engagement went on and I am glad that only a few months that I left office, the World Bank itself has put up a statement that they are prepared to support the Authority with US$200 million. It is just a relief for me,” he noted. The combined growth of these six tree crops is projected to earn Ghana between US$ 6 billion to US$12 billion annually after six or seven years of implementation.

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The financing of the Tree Crop Diversification Project will further support demand-driven research and enhance on-farm productivity and resilience to improve productivity, profitability, and climate resilience in the cocoa, cashew, coconut, and rubber value chains.Commenting further on the facility, Dr.

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Akoto who is a former two-term Member of Parliament (MP) for Kwadaso, lauded the International Development Association for extending the financial support for the Tree Crop Diversification Project.He expressed the belief that the US$200 million injected into the TCDP would speed up the activities of the TCDA, an action, he underscored, was the surest way to salvage the country’s economic woes.Dr.

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Akoto emphasized the significance of agriculture, particularly the tree crop sector, for the economic transformation of Ghana.Drawing attention to the success of Ivory Coast, he highlighted that the combined annual export earnings from five cash crops including cashew, cocoa, coffee, rubber, and oil palm, amounted to approximately US$8 billion annually.Dr.

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Akoto underscored Ghana's advantageous position compared to Ivory Coast due to its abundant arable land, ample water resources, and favorable rainfall patterns.Expressing confidence in the impact of the recently secured financing, he stated that the Tree Crop Development Authority's (TCDA) Board and Management would now be well-equipped to pursue the Authority's objectives and drive positive economic turnaround in Ghana.

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“I am very confident now that with the capable Management and Board of the Authority, they will be able to implement and make this a very unique contribution to the transformation of Ghana and that is the vision I am bringing to the Presidency of Ghana if I am elected first as the flagbearer of the NPP and subsequently as President come 7th December 2024 if the people of Ghana are convinced of this vision, this will be my central contribution

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in terms of promoting development in Ghana by transforming the economy”, he noted.He commended farmers in the country for their commitment to feeding Ghanaians, stressing that the smallholder farmers were ready to support the government to turn the economic fortunes of Ghana around using agriculture.Dr. Akoto also commended the current Minister of Food and Agriculture, Dr.

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Bryan Acheampong for continuing from where he left over with the introduction of the second phase of the Planting for Food and Jobs (PFJ).

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