New agricultural development bank to be launched in Rwanda
The Rwandan government wants to establish an agricultural development bank that will make it easier for farmers to obtain financeThe Rwandan government wants to establish an agricultural development bank that will make it easier for farmers to obtain finance
It is hoped access to credit among those in this sector will be increased from four to 18 per cent, the New Times reports.
Announcing the plans yesterday (November 7th), Prime Minister Pierre Damien Habumuremyi explained his authority wants to encourage the sustainable growth of the industry and consolidate gains that have already been made.
He also detailed plans to encourage greater research and soil conservation, as well as the introduction of better seed varieties and irrigation with the aim of achieving annual growth of ten per cent.
"Irrigating crops in marshlands and uplands will move from 13,000 hectares to at least 100,000 hectares," Mr Habumuremyi stated.
There will also be a greater use of organic fertilisers.
Agriculture generates a significant portion of Rwanda's gross domestic product - totalling 36 per cent in 2009 - and it produces coffee, tea, pyrethrum, bananas, beans, sorghum, potatoes and livestock.