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GIRSAL commits GH2bn lending capital for five years.

From now until 2027, the Ghana Incentive-Based Risk-Sharing System for Agricultural Lending (GIRSAL) would inject GH2 billion in capital to assist financial institutions’ lending to participants in the agricultural sector.

Board Chair Yaw Ansu said GIRSAL has since 2019 guaranteed loans to the tune of GH600 million through roughly thirteen financial institutions. He was speaking at the relaunch of the company’s activities and introduction of a Stakeholder Convening and Advocacy Platform in Accra yesterday.

He added that 87 agribusinesses throughout the nation have benefited from the loans.

“The strategic focus of the company is to use the credit risk guarantee scheme to catalyse, at least, GH¢2billion worth of loans to the sector by 2027,” he said.

The company stated it will prioritise and concentrate on a few selected agricultural value chains in the next months along with plans to invest more cash to support farmers in order to achieve food import substitution and increase exports.

22 financial institutions are currently working with GIRSAL and getting the benefit of the company’s credit guarantee programme. Of these organisations, 19 are commercial banks.