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Business News of Thursday, 22 January 2004

Source: GNA

Gov't secures $20.5 million loan for land project

Accra, Jan. 22, GNA - The Government has obtained a 20.5 million-dollar loan from the World Bank to finance the first phase of Ghana Land Administration Programme, President John Agyekum Kufuor told Parliament on Thursday.

He said the problem of land management remained a vexed one and that the programme when implemented would harmonise land policies and its legislative framework.

President Kufuor, who was delivering his Third State of the Nation Address, said the "Government is also examining the feasibility of registering all lands at all levels of titles, from government, to chiefs and individuals to render them bankable as source of wealth". He said the idea of using land as a source of wealth was introduced by Professor De Soto of Peru, who worked on it with former US President Bill Clinton.

He said the Government was already promoting the construction of dams and irrigations throughout the country.

He said under the Village Infrastructure Programme (VIP) and similar projects, small and micro irrigation systems, which were being managed by small-scale farmers that had been in service in different parts in the country for many years and were being systematically expanded while more of them were being developed.

"The processing storage and marketing of locally produced food is no longer being left to chance" the President said.

"Credit is being provided to specialised companies and individuals with requisite technical know-how to ensure that scientific and business-like methods are employed along the food chain, from the farms to dining tables."

The President said, "it is crucial, however, that as we adopt modern methods of farming we do not damage the environment" adding that the Government was ensuring the adoption of environmentally friendly inputs and practices.