Government will develop 100,000 new hectares across the Western, Central, Eastern and production belt as part of its oil palm value chain intervention.
The Minister for Finance, Dr. Cassiel Ato Forson, announced this when he presented the 2027 Budget Statement and Economic Policy in Parliament.
He said integrated oil palm zones will connect certified nurseries, nucleus estates and organised smallholders with mechanisation.
Dr. Forson said a 500 million US dollars financing window with long tenure and a five-year moratorium will be provided, recognising that a tree crop cannot be financed like short-term lending.
According to him, the programme has the potential to create 250,000 jobs.
The Finance Minister said 100,000 hectares of suitable land have been identified, with the Ministry of Lands and Natural Resources going through the acquisition process in line with international best practices.
He said the 500 million dollars World Bank financing has been agreed with the World Bank and will be presented to Parliament soon.
Dr. Forson added that the seventh intervention under the commercial agriculture value chain will be the vegetable industry value chain anchored by the Pwalugu Multi-Purpose Dam.
