AFC to issue US$11 million worth of loans to Kenyan farmers

Kenya farmerThe AFC is set to sign a contract with farmers in Kenya for a set loan amount depending on their needs. (Image source: CIMMYT)The Agricultural Finance Corporation (AFC) has set aside US$11mn dollars for loan distribution to Kenyan farmers as part of attempts to boost food production in the country

Lucas Meso, AFC managing director, stated that the organisation would assess each farmers requirements when making a decision of the loan amount to be issued.

"We have allocated adequate money which we will use to support farmers," said Meso.

As done in previous years, Meso explained that the AFC, who provides loans to individuals or groups involved in agriculture across Kenya, will sign a contract with the farmers for the loan facility.

Back in June 2012 Meso addressed the need for farmers in the country to gain more profits from farming activities.

“My organisation is willing to offer loans to farmers who adopt modern farming,” Meso said.

Some of the loans issued by the corporation include seasonal crop credit, machinery loans, fisheries, livestock, cash crops, horticultural and oil crops.

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