24 Oct

Government to Launch Revolving Loan Scheme for Selected Crops

first_imgStory Highlights Addressing farmers in Douglas Castle, St. Ann, on September 19, the Minister said that RADA will assist farmers with land preparation. In another two weeks, the Government will be launching a revolving loan scheme for farmers across the island for selected crops. In another two weeks, the Government will be launching a revolving loan scheme for farmers across the island for selected crops.Under the arrangement, registered farmers with the Rural Agricultural Development Authority (RADA), will access the support through their local farm organisations, which will oversee the repayment of the loans.Minister without Portfolio in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. J.C. Hutchinson, said the initiative has support from several private-sector partners, and funds will only be loaned for crops that have available markets.Addressing farmers in Douglas Castle, St. Ann, on September 19, the Minister said that RADA will assist farmers with land preparation.The function. dubbed ‘Salute to Farmers’, was organised by St. Jago Farm and Hardware Supplies (SJFHS) to honour farmers for exemplary service in agriculture.Mr. Hutchinson said markets are “guaranteed” for the crops that will be grown under the programme.Some 96 farmers in the area received agricultural inputs from SJFHS, including a spraying machine.Meanwhile, Executive member of the Douglas Castle Production and Marketing Organisation, Bishop Paul Black, said recently they implemented a revolving loan programme with a 98 per cent success rate.He called on potential beneficiaries of the new scheme to be honest, so that the system works for the farmers.Several farmers welcomed the help that they received from SJFHS, as it will help to boost production, given the loss from the recent floods.For his part, Managing Director of SJFHS, O’Brien Johnson, said his company will be taking the programme to St. Thomas and St. Elizabeth.He argued that farming needs all the support it can possible get, and the farmers should use the items wisely.“This is intended to motivate them, and for them to recognise that they are doing something good,” Mr. Johnson said. Minister without Portfolio in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. J.C. Hutchinson, said the initiative has support from several private-sector partners, and funds will only be loaned for crops that have available markets.last_img

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