Govt, ZNFU start irrigation fund negotiations
Govt, ZNFU start irrigation fund negotiationsBy Kabanda Chulu
Friday October 19, 2007 [04:00]
GOVERNMENT has started negotiations with Zambia National Farmers Union (ZNFU) to find affordable ways in which farmers can access the K37 billion irrigation development fund. Agriculture minister Ben Kapita yesterday said the government has realised that several farmers would not afford to meet the huge collateral being demanded by Finance Bank, which is disbursing the fund.
“We have started discussions with ZNFU to see if farmers can access the irrigation development fund using their irrigation equipment as collateral because we have realised that what the bank is demanding is too much for our farmers,” Kapita said.
“We are doing this because we want to ensure that small scale farmers access 75 per cent of the funds in order to ensure food security.”
He said the promotion of irrigation would reduce the dependency by farmers on rain-fed agriculture and would ensure the availability of food throughout the year. Kapita said the irrigation development fund was an inexpensive credit facility that would result in lower production costs and affordable foodstuffs on the market.
Last month, Kapita launched the K37 billion irrigation development fund and the proportion for lending to borrowers is that 75 per cent would go towards the supporting of small-scale and emergent farmers. Large and commercial farmers would access 16 per cent with nine per cent going towards manufacturers and technology developers that were engaged in research and development.
The irrigation development fund was meant to put an additional 70,000 hectares under irrigation in the next five years from small, medium and large scale farmers.
Labels: BEN KAPITA, IRRIGATION, ZNFU
posted by MrK @ 8:27 AM
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