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GMB expects to start paying farmers after next Tuesday.
The money, which was released on Thursday from the Ministry of Finance into the Ministry of Agriculture, Mechanisation and Irrigation Development’s account, will then be transferred to the GMB’s account.
The release of the funds follows a Tuesday Cabinet order directing Minister Tendai Biti to immediately release US$40 million to buy inputs and recapitalise GMB to pay farmers.
GMB general manager Mr Albert Mandizha yesterday confirmed that Treasury had released funds although the money was yet to reflect in the GMB account.
He said it used to take about seven days for GMB to receive the released funds but said arrangements had been put in place to ensure quick movement of the funds this time.
“We have tried to minimise the time taken between the release of funds from Treasury and the time they reflect in our account so the farmers must get paid as soon as the money reflects,” said Mr Mandizha.
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GMB, he added, had spent nine weeks without making any payments, as it had no money.
Mr Mandizha said subsequent payments were following although he was not sure of the amounts and period when the money would be released.
Minister Biti recently said that the US$10m was for the payment of grain delivered to GMB depots although the parastatal had requested US$39,6m for the purpose.
Treasury is expected to release an additional US$30m for the payment of inputs suppliers so that farmers who have delivered grain to the GMB and have been paid can buy inputs.
Some farmers can even swap grain for inputs as they race to conclude preparations for the 2011/12 farming season that will soon start.
Online Reporter