New Loan Scheme Launched to Boost Agriculture in Bum Chiefdom, Bonthe District

August 22, 2024

The Ministry of Agriculture and Food Security's Regional Rice Value Chain Project (RRVCP) has introduced a new Islamic Microfinance loan scheme aimed at fostering agricultural growth in Bum Chiefdom, Bonthe District. The scheme, facilitated through Apex Bank, was unveiled during a key meeting with farm-based organizations (FBOs) and small-medium enterprises (SMEs) in Tormabum.

This initiative is designed to provide financial support specifically targeting women and youth involved in agriculture. The Ministry's representatives detailed the loan scheme's benefits and application process, emphasizing its potential to enhance the local rice value chain and drive economic development in the region.

The introduction of this loan scheme highlights the government's commitment to empowering rural communities and promoting sustainable agricultural practices. Farmers in attendance expressed appreciation for the scheme, which promises to strengthen local enterprises and support the livelihoods of those in the agricultural sector.