Government moots insurance scheme for cooperative farmers

An insurance scheme targeting to help cooperative farmers countrywide is in the offing. If implemented, more farmers will access loans, insurance services and pension. James Musoni, Minister of Finance and Economic Planning said the heavy investment and incentives are meant to attract more investors in the agricultural sector. The scheme comes after members of parliament recently observed that the agricultural sector is not attracting many investors partly because of the fluctuating prices, and that banks are reluctant to give the farmers loans. The scheme as detailed in the recently launched Vision 2020 Umurenge focuses on rural development. Under this Vision, an economic revolution programme stresses the need to uplift the standards of people in rural areas. Many Rwandans will start commercial agriculture other than subsistence farming. Local Government Minister, Protais Musoni, said, under the insurance scheme, farmers will be able to get a retirement package like any other employee. He said that the scheme will help farmers in cooperatives to also easily access fertilisers and high quality seeds. Ends