K275m disbursed under Agriculture Financing Facility

By Blessings Chibuye

Government has released 275 million kwacha to financial institutions to facilitate payments to farmers under the Sustainable Agriculture Financing Facility -SAFF.

Of this amount, about 100 million kwacha was disbursed through NATSAVE, while the Ministry of Finance released 175 million kwacha, which has been distributed to partnering banks.

Agriculture Minister REUBEN MTOLO says the release of funds has eased pressure on NATSAVE because Indo Zambia Bank and ZANACO are now participating in the initiative.

In an interview with ZNBC News, Mr. MTOLO said the inclusion of additional banks means farmers will receive support faster and Government expects more banks to join soon.

He explained that the SAFF loans cover five key areas of fertiliser and seed, Irrigation, Farm Power Mechanisation, Aquaculture and Livestock.