Zimbabwe: Agribank Avails $10m for Horticulture

Jun 21, 2017 | The Herald; All Africa

The Agricultural Development Bank of Zimbabwe (Agribank) says it is offering horticulture farmers working capital as well as loans to acquire assets.

The Agricultural Development Bank of Zimbabwe (Agribank) says it is offering horticulture farmers working capital as well as loans to acquire assets amounting to $10 million to promote horticulture production. Zimbabwe produces several horticultural products including flowers, fruits, vegetables, herbs, spices, essential oils and tree nuts.Most of these products are exported to European markets including the Netherlands, the United Kingdom, Germany, Spain, Portugal and France. Agribank said the facility attracted an interest rate of up to 10 percent per annum with a tenure of up to 12 months for working capital and up to three years for capital expenditure. Produce being targeted include citrus, bananas, avocados, apples, pears, macadamia and pecan nuts, paprika, gem squash butter-nuts, sugar snaps and peas."Agribank is actively promoting horticulture production by availing appropriately priced financing for horticulture producers," it said in a statement. Read more on All Africa. Source: All Africa