Govt launches $100m of agricultural bills in Zimbabwe

Dec 06, 2011

The Zimbabwean government has introduced $100 million (€74.7 million) of Agricultural Marketing Authority Bills in a bid to enhance food security and encourage the production of grain.

The Zimbabwean government has introduced $100 million (€74.7 million) of Agricultural Marketing Authority Bills in a bid to enhance food security and encourage the production of grain.

These will be launched through the CBZ Bank and although details on how farmers can access them are still to be revealed, they will be paid for through a stop order facility when harvesting is complete, the Herald reports.

While $56.2 million of the bills will be used to support the input requirements of agricultural workers, the rest of the money will be set aside to clear the previous season's liabilities.

Farmers will be able to purchase items such as seed and fertiliser on credit and funds will also be provided by the private sector to support the 2011-12 season.

Some 66 percent of the population of Zimbabwe are employed in the agricultural sector and it generates 19.8 percent of the country's gross domestic product.ADNFCR-2976-ID-801231198-ADNFCR