31 January 2013

Uganda: Banks to Ease Agribusiness Lending

Housing Finance Bank is easing its agribusiness lending to benefit farmers and its outreach into the agricultural sector.

The bank on Monday received a sh127m grant from Agribusiness Initiative Trust towards technical assistance and capacity building in the agribusiness lending sector.

Housing Finance managing director Nicholas Okwir said such grants help the bank reach a wider market and also create greater value and job opportunities in the agriculture sector.

The managing director of Agribusiness Initiative Trust, Svend Jensen, said the trust supports agribusiness development in the private sector to achieve government objectives of competitiveness and investment.

Agribusiness Initiative Trust is a multi-donor entity jointly founded by Denmark and Uganda and is geared at supporting selected agricultural value chains of maize, coffee, oil-seeds, dairy and horticulture for export.

Jensen said the trust strengthens competitiveness of the agricultural and agro-processing sectors through investment and loan guarantees.

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