Finance Minister Dr Cassiel Ato Forson has announced that a US$500 million financing arrangement with the World Bank to support Ghana’s oil palm development programme will soon be presented to Parliament for consideration.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026, Dr Forson said the financing had been agreed with the World Bank as part of government’s plans to expand domestic oil palm production and achieve self-sufficiency.
He said the funding would be structured as a patient-finance window with long repayment periods and a five-year moratorium, taking into account the time required for tree crops to mature and generate returns.
“A US$500 million patient-finance window, with long tenors and a five-year moratorium, will recognise that a tree crop cannot be financed like short-cycle trading,” he told Parliament.
Dr Forson subsequently confirmed that the financing arrangement had been agreed with the World Bank and would be submitted to Parliament for consideration.
“The US$500 million-World Bank financing has been agreed on with the Bank and will soon be presented to Parliament for consideration,” he said.
The financing forms part of government’s broader plan to develop 100,000 hectares of new oil palm plantations across the Western, Central, Eastern, Volta and Ashanti regions.
According to the Finance Minister, the 100,000 hectares of suitable land have already been identified, while the Ministry of Lands and Natural Resources is undertaking the acquisition process in line with international best practices.
The programme will establish integrated oil palm production zones linking certified nurseries, nucleus estates and organised smallholder farmers to mechanisation, modern mills, refineries and downstream manufacturing.
Government projects that the initiative could support more than 250,000 jobs and enable Ghana to achieve self-sufficiency in oil palm production while expanding into export markets by 2032.
The programme forms part of the US$3 billion Commercial Agriculture pillar under the government’s broader economic transformation agenda, which seeks to expand domestic production, reduce dependence on food and agricultural imports and strengthen agro-processing.
