The Finance Minister Ken Ofori-Atta has announced that government will set up an Infrastructure for Poverty Eradication project to cater for its one million dollars- one constituency promise.
According to him, the fund will be targeted at improving the livelihood of Ghanaians in rural areas by providing them with sustainable jobs.
“ Under the Establishment of the Infrastructure for Poverty Eradication project every constituency will be allocated the cedi equivalent of one million dollars to combat poverty. We will allocate one million dollars to each constituency in this house to improve the lives of rural dwellers and deprived communities,” he said during the budget presentation in parliament.
He explained that the project will have a direct link with government’s one district one factory project which is estimated to cost GH¢456.3 million and create about 350,000 jobs.
“Government will implement the one district one factory programme by initiating a massive industrialization campaign across the country which will equip and empower communities to use their local resources to manufacture products that are in high demand both in Ghana and the sub-region,” he said.
Explaining how the projects are interlinked, Mr. Ofori-Atta stated that the “One District, One Factory”, will also be closely intertwined with our “National Industrial Revitalization Programme”,
“This is designed as a comprehensive programme for rural industrialization, driven by the private sector and involving the setting up of at least one medium to large scale factory in each of the administrative districts of Ghana,” he noted.
He stated that the initiative adds value to the natural resources of each district, to ensure even and spatial spread of industries to stimulate economic activity in different parts of the country.
“It has the potential of transforming the industrial landscape of Ghana and will contribute significantly to the socio-economic development agenda of the country. We estimate that over 350,000 direct and indirect jobs would be created from all parts of the country, as a result of the implementation of the programme,” he said.
By: Lawrence Segbefia/citibusinessnews.com/Ghana