Loans to help cane farmers
2 June, 2020, 10:06 pm
Farmers who produce less than 50 tonnes of sugar cane can now access loans of up to $5000 from the Sugar Cane Growers Fund (SCGF).
Fund chief executive officer Raj Sharma said the initiative was being introduced to boost Government’s micro, small and medium enterprises initiative.
“These are the individuals who can use the funds to assist our canegrowers in land preparation, planting of cane and even harvesting,” he said.
Mr Sharma said the initiative would achieve desired economic activity, increase cane production, create jobs for people on farms and assist in harvesting.
He also said it would help growers, who were in arrears, increase their production so that they could repay their loans with SCGF.
“There are a group of growers operating informally and they can regularise and venture for this project.”
Mr Sharma said the SCGF had identified all the growers in their books who produced less than 50 tonnes of cane.
“Through this government initiative, growers can access an interest-free loan of $5000 from SCGF to plant sugar cane.”