Tinaye Agere
Sunday Mail Reporter
THE Agricultural Finance Corporation (AFC) Land Bank plans to support production of wheat on 15 000 hectares this winter season, up from about 10 000ha last season.
To date, the bank has received applications for support from farmers covering up to 18 000ha.
In a statement, the AFC Bank said subscription to its winter wheat programme has risen by 40 percent, compared to last year.
“Following the 2022 winter wheat season’s success, where the bank achieved 10 420ha, this year’s target was revised to 15 000ha, which the bank is optimistic and upbeat about,” said the bank.
“Planting has already started in some parts of the country, with farmers chasing the May 15 planting date target.
“The increase in the number of applications follows Government’s pledge to ensure uninterrupted power supply, which is a key pillar in wheat production.”
The financial institution is offering a range of support facilities comprising working capital and inputs, including seed and fertilisers.
AFC Land Bank is also leveraging support from the bank’s leasing company for farmers’ tillage requirements, with all loans being disbursed through AFC Commercial Bank.
AFC Land Bank is a development finance institution that offers agriculture financing.
Online Reporter