Loan Guarantee For Small Farmers
The Alliance for a Green Revolution in Africa, a green group headed by former United Nations secretary- general, Kofi Annan, plans a loan guarantee facility to leverage a US$1 billion from commercial banks for small African farmers.
The organisation’s vice president, Akinwumi Adesina, points out that the organisation, with a board chaired by Annan, intends to launch the facility to cover a gap in funding for small-scale food producers in Africa.
Adesina says African banks are awash with money, but less than one percent of total domestic private capital went to agriculture, a significant contributor to Gross Domestic Product and which employs some 70 percent of the labour force.
To read the article titled, “Farmers get green light,” click here.
The organisation’s vice president, Akinwumi Adesina, points out that the organisation, with a board chaired by Annan, intends to launch the facility to cover a gap in funding for small-scale food producers in Africa.
Adesina says African banks are awash with money, but less than one percent of total domestic private capital went to agriculture, a significant contributor to Gross Domestic Product and which employs some 70 percent of the labour force.
To read the article titled, “Farmers get green light,” click here.
Source:
<br /> Sunday Times
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