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Haiti - Economy : The State will guarantee loans to farmers
06/03/2019 09:25:43
In the perspective of increasing domestic production in some promising channels for consumption, Ronald Décembre, the Minister of Economy and Finance announced that the State through existing financing mechanisms (Agribusiness financed by the Center of Investment Facilitation (CFI) up to 150 million gourdes, SME Credit Expansion Project, by the European Development Bank for approximately $ 15 million (1.2 billion gourdes) and the Youth Entrepreneurship Support Program (PAPEJ) by the Ministry of Commerce for an amount of 500 million gourdes) will guarantee loans in the agricultural sector.
These credits guaranteed at a low interest rate (which can reach 0% in some cases) are intended to enable the farmer to borrow from a financial institution without risk to the bank (a major obstacle in the agricultural sector) while reducing to minimum risk for the farmer (see by totally eliminating it in some cases).
With this measure, the Government hopes to reduce the cost of living by limiting food imports.
PI/ HaitiLibre
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