Tag: Agrifinancing

Tanzania Agricultural Development Bank to inject US$17m in coffee sector

Frank

TANZANIA – State-owned Tanzania Agricultural Development Bank (TADB) is continuing to offer financial support to coffee cooperatives in the country facilitating the production and purchase of the crop. Recently the bank issued Tsh27bn/- (US$11.6m) to four Lake Victoria Zone cooperative societies to buy coffee from Kagera and Mara farmers this season. Kagera region is the main Robusta coffee producing area and contributes to about 30 per cent of the total coffee production in Tanzania. The cooperative societies are Ngara Farmers’ Cooperative, Karagwe District Cooperative Union (KDCU), Kagera Cooperative Union (KCU) and…

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IFAD to bolster Angolan small holder farmers’ projects with US$150m financing

Frank

ANGOLA — Angola has inked a US$150m financing agreement with the International Fund for Agricultural Development (IFAD), aimed to ensure national food security through the Smallholder Resilience Enhancement Project (SREP). The project will promote sustainable practices such as the introduction of drought-tolerant crop varieties, adaptation of cropping calendars and rainwater harvesting. It will invest in small-scale irrigation, increased access to water and climate-resilient farming practices. The agreement was signed by Angola’s permanent representative to the United Nations in Rome (Italy), Fátima Jardim, and IFAD president Gilbert Houngbo. The funding includes a…

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Angolan Agrarian Development Support Fund to promote crop production with US$26.3m financing

Frank

ANGOLA – The Agrarian Development Support Fund (FADA) of Angola is set to inject Akz 15 billion (US $26.3million) in this year’s agricultural season to enhance crop production in the country through offering credit to family farmers. The funding will enable the farmers acquire agricultural inputs such as tractors, fertilizers, pesticides, production tools, agricultural seeds, as well as other means to guarantee the development of agriculture in better conditions, reports Angola Press. According to Carlos Fernandes, CEO of FADA, the financing will promote diversification of the economy and reduce imports of various…

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