Special Initiatives

Interest Rate Subsidy Initiative (IRS)

The IRS is a Government of Ghana intervention that seeks to grant a 50% subsidy on financial institutions’ interest charges for loans advanced to qualified agribusinesses in selected value chains and activities.

This is part of the agricultural component of Ghana CARES – the government’s response to mitigate the impact of the COVID-19 pandemic on the lives and livelihoods of Ghanaians.

Rice & Soya

Production*, Aggregation, Processing

Poultry

Broiler Production*

Tomato

Production* and Processing

Eligibility Criteria for Agribusinesses

Agribusiness must be operating within the 4 selected value chains.
Loan applications must be through selected FIs that have master agreement with GIRSAL
Only loans approved by PFIs with/without CRG will qualify for IRS
Eligible loan types: New loan application – that falls within project period 2021 – 2023; Loan application currently with PFI, with/without CRG; Loan application undergoing CRG assessment at GIRSAL;
CAPEX component for only replacement & retooling of existing equipment

Steps for Granting IRS Support

Eligible agribusinesses to apply to PFIs.
GIRSAL & PFI with technical support from MoFA undertake assessment for IRS support and /or CRG
PFI request for the IRS and/or CRG – IRS to ride on GIRSAL CRG scheme when necessary.
Disbursement of 50% subsidy to beneficiary FIs.

Partners: