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IFAD canvasses credit facility for rural farmers to boost production

The International Fund for Agricultural Development (IFAD) says farmers in Taraba need access to credit facility to be able to boost production.

IFAD State Programme Coordinator, Mr Irimiya Musa, said this on Friday in Jalingo during a three-day training for financial institutions.

The training was organised by IFAD’s Value Chain Development programme (VCDP).
He said that the technical support to financial institutions became imperative, following the difficulty faced by rural farmers to access bank facilities to boost farm businesses.

”Many farmers find it difficult to approach financial institutions for facilities to enhance their businesses.

”Some of them do not even know how to open bank accounts.

“This training will empower them to take the right steps,” Musa said.

He also said that rural farmers should understand how to be financially inclusive to enhance productivity and food security.

He said that IFAD-VCDP was collaborating with some financial institutions to ensure that the process of providing credit facilities to farmers was mutually beneficial.

Musa commended Gov. Darius Ishaku for his support to farmers in the state through consistent payment of counterpart funds for VCDP and other programmes.

Also, a Consultant to VCDP on financial inclusion, Mr Jubli Makka, said that the programne would enhance farmers’ understanding of how to access financial assistance.

”We want to play our role by empowering farmers to take the right steps towards building their businesses and fighting food insecurity.

”We need to collectively make agriculture a major contributor to the nation’s economy,” Makka said. 

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