Agric sector deserves credit, not risk prone than others – AFT Fund Chief

Business News of Friday, 19 April 2019Source: goldstreetbusiness.comAgric sector deserves credit, not risk prone than others – AFT Fund ChiefMr. Jonas Chianu, (right), AFT Fund Coordinator of the AfDB, interacting with participantsCoordinator of the AFT Fund at the AFDB, Dr Jonas Chianu has observed that while commercial banks are weary of offering credit to farmers citing high-risk concerns, he believes the agricultural sector is not volatile nor risk-prone than competing sectors such as mining, manufacturing or the services sector. The Agriculture Fast Track Fund (AFT Fund) custodians of the US$23 million grant which was provided by the governments of Denmark (through DANIDA), the US government (through USAID) and Sweden (through Sida), is managed by the Agriculture and Agro-Industry Department of the African Development Bank. The 17 beneficiaries Small- and Medium-sized Agribusinesses are expected to receive between US$100,000 and US$1.5 million for their feasibility studies. Tamanaa Company Limited received US$220,000 to be invested in rice production and processing, while Farmline Limited Ghana was granted US$165,000 for warehouse and industrial food processing. Philafrica Foods Limited received US$195,000 for a maize mill plant and integrated poultry production, while Techiman Processing Complex Limited had US$160,000 for a tomato supply chain processing.


April 19, 2019 06:00 UTC

Cryptocurrency      African Press Release      Lifestyle       Hiring       Health-care       VMware