The Ministry of Finance has credited the designated National Disaster Management Committee accounts with GH¢350 million from the Contingency Fund to finance emergency flood relief and mitigation measures following severe flooding that has affected parts of the country.
In a statement, the MoF said the transfer follows President John Dramani Mahama’s directive to the Finance Minister, Dr. Cassiel Ato Forson, to mobilise resources from the Contingency Fund to support immediate relief efforts and strengthen flood mitigation measures.
In line with Article 177 of the 1992 Constitution, the Finance Minister first secured parliamentary approval through the Finance Committee for the withdrawal from the Contingency Fund.
Following Parliament’s approval, the Minister for Finance authorised the Controller and Accountant-General to release and transfer GH¢350 million from the Contingency Fund to the National Disaster Management Committee to implement the National Emergency Flood Response Programme.
Pursuant to the Minister’s directive, the Controller and Accountant-General opened a dedicated National Disaster Management Committee Account at the Bank of Ghana and has transferred the full GH¢350 million into the account. The designated account has therefore been fully credited with the approved amount.
Of the total amount, GH¢200 million will finance urgent relief efforts for flood victims and affected communities, while GH¢150 million will be used to undertake flood mitigation measures aimed at reducing the frequency and impact of flooding.
The transfer of the funds gives effect to President Mahama’s directive for an immediate government response to the flood emergency, providing timely assistance to affected communities while supporting long-term measures to reduce the impact of future flooding.
Source: BFT online
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