Agribank Disburses $17,3bn to Wheat Farmers
THE Agricultural Bank (Agribank) has so far disbursed $17,3 billion to winter wheat farmers, the bank's chief executive officer, Mr Sam Malaba, said yesterday.
Mr Malaba told New Ziana that of the $50 billion given to the Land Bank through the Government's Productive Sector Facility, $17,3 billion had so far been disbursed to farmers.
He said the money would go towards funding the farmers' working capital requirements.
"The bank received and committed $50 billion for the winter wheat programme of which $17,3 billion has already been disbursed to farmers for the winter wheat working capital requirements," said Mr Malaba.
He said that they received various other requests for the purchase of capital items such as irrigation equipment and tillage units.
The bank could, however, not meet the requests for irrigation equipment and tillage units as these could be procured through other institutions.
"Irrigation infrastracture rehabilitation is the responsibility of Arda and Arex's department of Agricultural Engineering," he said.
He said a total 1 024 farmers had benefited from the programme, with 80 percent being A1 and A2 farmers.
"Very few people who did not have adequate water resources or had inadequate irrigation infrastracture failed to access the loans, but the bulk of the people who approached the bank for working capital purposes got assisted," said Mr Malaba.
He said the Land Bank was in the process of preparing for the summer cropping season and was awaiting the last $50 billion disbursement from Government.
"The bank is also making presentations for release of additional funding to meet the balance of the summer season requirements for the next season," he said.
Agribank was last year transformed from a commercial bank into a land bank responsible for funding agricultural activities and new challenges presented by the land reform exercise that began in 2000. - New Ziana.
- The Herald (Harare)
THE Agricultural Bank (Agribank) has so far disbursed $17,3 billion to winter wheat farmers, the bank's chief executive officer, Mr Sam Malaba, said yesterday.
Mr Malaba told New Ziana that of the $50 billion given to the Land Bank through the Government's Productive Sector Facility, $17,3 billion had so far been disbursed to farmers.
He said the money would go towards funding the farmers' working capital requirements.
"The bank received and committed $50 billion for the winter wheat programme of which $17,3 billion has already been disbursed to farmers for the winter wheat working capital requirements," said Mr Malaba.
He said that they received various other requests for the purchase of capital items such as irrigation equipment and tillage units.
The bank could, however, not meet the requests for irrigation equipment and tillage units as these could be procured through other institutions.
"Irrigation infrastracture rehabilitation is the responsibility of Arda and Arex's department of Agricultural Engineering," he said.
He said a total 1 024 farmers had benefited from the programme, with 80 percent being A1 and A2 farmers.
"Very few people who did not have adequate water resources or had inadequate irrigation infrastracture failed to access the loans, but the bulk of the people who approached the bank for working capital purposes got assisted," said Mr Malaba.
He said the Land Bank was in the process of preparing for the summer cropping season and was awaiting the last $50 billion disbursement from Government.
"The bank is also making presentations for release of additional funding to meet the balance of the summer season requirements for the next season," he said.
Agribank was last year transformed from a commercial bank into a land bank responsible for funding agricultural activities and new challenges presented by the land reform exercise that began in 2000. - New Ziana.
- The Herald (Harare)
publicado por MP às 23:34
