(3 minutes read)
The government of Zambian introduced a new scheme to boost agricultural production in the small-scale farming. This proactive sustainable agriculture financing facility credit window, marking the beginning of the registration process at district agriculture coordinators’ offices. This initiative, designed to support and promote sustainable agriculture practices, aims to provide accessible loans to farmers.
The government of Zambian introduced a new scheme to boost agricultural production in the small-scale farming. This proactive sustainable agriculture financing facility credit window, marking the beginning of the registration process at district agriculture coordinators’ offices. This initiative, designed to support and promote sustainable agriculture practices, aims to provide accessible loans to farmers. The minister of agriculture Zambia, Reuben Mtolo, revealed that these loans will be made available through banks at a competitive interest rate of 12 percent. The minister emphasized that all beneficiaries will be required to enter bonding agreements, committing to selling their produce to the Food Reserve Agency (FRA). This commitment serves as a market facilitation strategy, ensuring food security for the nation. During the ministerial statement presented to the National Assembly, Minister Mtolo clarified that the loans would be provided in the form of farming inputs. This targeted approach aims to benefit those farmers who are not covered under the Farmer Input Support Program (FISP), allowing them to access essential resources for agricultural production.
The Sustainable Agriculture Financing Facility will not distribute cash to farmers. Instead, the focus is on providing the necessary inputs and support to enhance agricultural productivity and food security in the country.
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https://trendsnafrica.com/zambia-lifts-maize-and-mealie-movement-restrictions/
The launch of this credit window is a significant step in advancing sustainable agriculture in Zambia, offering financial support to farmers and reinforcing the nation’s commitment to food self-sufficiency and economic growth. This initiative holds the potential to improve the livelihoods of many smallholder farmers across the country.
