Burundi launches an investment fund for agriculture
Burundi's Ministry of Agriculture and Livestock has launched a Competitive Investment Fund for Commodities (FIF) to improve the financing of agricultural producers.Burundi's Ministry of Agriculture and Livestock has launched a Competitive Investment Fund for Commodities (FIF) to improve the financing of agricultural producers.
"If we cannot provide significant funding to producers, it will be difficult to say whether we are going from a subsistence agriculture to a development-oriented agriculture," said Minister of Agriculture and Livestock Odette Kayitesi, quoted by Xinhua news agency.
This fund targets the facilitation of productive investment that can generate income for rural families.
In Burundi, the the poor access to agricultural credit remains a major handicap when it comes to increasing food production, as farmers cannot afford the high interest rates charged by commercial banks, according to the Confederation of Agricultural Producers Associations for Development (CAPAD).
Figures from the presidency of Burundi show that the agricultural sector alone contributes to about half of gross domestic product and generates nearly 80 percent of export earnings.