Rf. 12 m to be issued in soft loans to develop agriculture - Minister

Over Rf.12 million are to be issued as soft loans to develop agriculture, fisheries minister Dr. Ibrahim Didi has revealed.

Speaking at a press conference held at press room Fansavees/ Dharubaaruge on Thursday, fisheries minister Didi said the under the government’s project to provide financial assistance to farmers some Rf. 12,125,000 are to be given in soft loans. He revealed that the maximum amount an individual farmer may receive as loan would be Rf.50, 000 and registered Corporative Societies are entitled to a maximum loan amount of Rf.500, 000.

Those who have taken islands from the government on long term lease for purposes of agricultural development may receive a maximum loan of Rf.300, 000 and community based organizations would be entitled to a maximum of loan of Rf.100,000.

Fisheries minister further said over Rf. 1,330,000 are to be issued in soft loans fro development of hydroponic agriculture. Under this project, farmers may receive a maximum loan of Rf.100, 000 and a minimum of Rf.15, 000.

Minister Didi said application for loans would be accepted from Sunday onwards for a period of three months.