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Aid Bank Increases Sensitization Of Stakeholders In The Agriculture Sector

The Dominica Agricultural Industrial and Development Bank has increased its sensitization to stakeholders within the Agriculture Sector with respect to the $10 million dollar Line of credit from the Government of Dominica.

Since the recent signing of the Agriculture Loan Agreements, there have been increased consultations with the Ministry of Agriculture and Fisheries, individual farmers and other key stakeholders within the sector.

Agriculture Business Development Officer at the AID Bank, Ms. Bertilia Bethel says that crop and livestock farmers and fisher folk are very enthusiastic and are no longer doubtful about being able to access this facility at the Bank.

“In fact,” says Ms. Bethel, “their growing confidence is manifested in an increase in applications for funding to rehabilitate their farms, enhance the housing for livestock, purchase fishing vessels and fish pots and to pay for inputs and farm labour.”

AID Bank is strongly encouraging farmers to adopt a business approach to their farms and is reinforcing the importance of record-keeping.

During the month of September, the bank will continue its series of scheduled meetings with farmers islandwide, with a view to increasing farmers’ interest in application for funding and to upgrade their farms.
To date, the bank has received applications from around 50 farmers and has begun the process of site visits to the farms and due diligence in the assessment of each application. Actual disbursement of funds is expected to commence in September 2016.
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