Rwf6bn credit line to benefit maize and soya farmers

Eleven maize and soya beans farmers’ cooperatives in Eastern Province are set to benefit from a $9.2 million (about Rwf6.4 billion) lending programme jointly rolled out by International Finance Corporation (IFC), Global Agriculture and Food Security Programme, (GAFSP) and KCB Bank Rwanda yesterday.
Rwanda's Managing Directors of KCB Maurice Toroitich(R) s hare a light moment with Ethiopis Tafara, IFC vice president for corporate risk and sustainability. (T.Kisambira)
Rwanda's Managing Directors of KCB Maurice Toroitich(R) s hare a light moment with Ethiopis Tafara, IFC vice president for corporate risk and sustainability. (T.Kisambira)

Eleven maize and soya beans farmers’ cooperatives in Eastern Province are set to benefit from a $9.2 million (about Rwf6.4 billion) lending programme jointly rolled out by International Finance" Corporation (IFC), Global Agriculture and Food Security Programme, (GAFSP) and KCB Bank Rwanda yesterday.

This, the partners say, is in a bid to have the more than 12,000 small-holder farmers use the financing" to gain access to improved seeds and fertilisers and to training in better farming practices in order to expand food production.

After harvesting, the cooperatives will supply the grains to a food processing plant that produces fortified cereals for people suffering from malnutrition, particularly children.

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Officials from IFC and KCB bank during the signing ceremony yesterday.

Speaking after the signing ceremony at the World Bank Kigali offices, Ethiopis Tafara, IFC vice president for corporate risk and sustainability, said grain production has a significant impact on food security in the country.

“Access to affordable financing /></a> will enable the farmers to improve maize and soya bean productivity, and <a id=earn more income" to support their families,” said Maurice Toroitich, KCB Bank Rwanda’s managing director.

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(L-R) Ethiopis Tafara, IFC vice president for corporate risk and sustainability, Caro Pleysier first secretary food security and private sector development from Embassy of the Kingdom of the Netherlands,  Georgina Baker director  syndicated loans and management -IFC, and  Rwanda’s Managing Directors of KCB Maurice Toroitich(R) in a group photo after the signing ceremony. (Photos by Timothy Kisambira) 

In addition, farmers will receive technical advice through a comprehensive advisory services programme provided by the IFC and its partners.

editorial@newtimes.co.rw

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