BoU asks govt to recapitalise Agriculture Credit Facility

A farmer sprays weeds with herbicide. Uganda has asked government to urgently recapitalise the Agricultural Facility Fund to address a funding gap resulting from an increase in approved projects. PHOTO/ FILE

What you need to know:

  • Since 2009, the Agricultural Credit Facility has extended more than Shs158.2b to about 103 agro processors engaged in value addition, boosting export promotion of agro-processed Ugandan made products, especially in the dairy, tea and grain milling sectors.

Uganda has asked government to urgently recapitalise the Agricultural Facility Fund to address a funding gap resulting from an increase in approved projects. 
In details contained in the Agricultural Credit Facility Progress Report for the period ended June 30, Bank of Uganda said the Facility had seen a 7.1 percent increase in loan applications, which during the period, had increased to 45 applications, stretching available financing by Shs21.11b. 

Welcome!

You're all set to enjoy unlimited Prime content.