The Fund is to receive contributions and donations from the public to assist in the welfare of the needy and the vulnerable.
The president made the announcement when he announced the lockdown of Accra, Kumasi, Obuasi and Tema Friday night.
"I am announcing tonight the establishment of a COVID-19 Fund, to be managed by an independent board of trustees, and chaired by former Chief Justice, Sophia Akuffo, to receive contributions and donations from the public to assist in the welfare of the needy and the vulnerable,"
The president also directed the Controller and Accountant General to pay his next three months' salary (April, May and June) into the Fund.
"Let me also thank, from the bottom of my heart, the churches, financial institutions and individuals who have already made donations to help in this fight. God richly bless them," he said.