Government of Rwanda to cut lending rates on loans to poultry and pig farmers

Published 2021년 12월 2일

Tridge summary

The Rwandan government is introducing a financing scheme to offer pig and poultry farmers, as well as animal feed producers, bank loans with reduced interest rates, up to 8%, in an effort to boost the agriculture sector and increase production of poultry and pig products. The scheme, which will allocate at least Rwf2 billion through the Development Bank of Rwanda, aims to stimulate more investment in the industry and help the country meet its food demand goals as its population grows. Additionally, the government is exploring alternative animal feed sources, such as black soldier flies, and investigating the potential of sweet potato vines as feed ingredients, in an effort to make animal feeds more affordable and sustainable.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The government is set to launch a new financing scheme to lower interest rates for pig and poultry farmers as well as animal feed producers in need of bank loans. The new scheme has been designed to reduce interest rates on loans given to pig and poultry farmers as well as others in the value chain to as low as 8 per cent, according to a government official. Solange Uwituze, Deputy Director General in charge of Animal Resources Research and Technology Transfer at Rwanda Agricultural and Animal Resources Development Board (RAB) told The New Times that the government could pay for beneficiaries up to interest rates totalling up to Rwf100 million. "This means that a farmer or animal feed producers must make sure they request a loan that will not exceed the interest rate worth Rwf100 million," she disclosed. This means for example, she illustrated that if a bank calculates that you have to pay Rwf350 million interest rates on a loan you acquired, we will only pay Rwf100 million for ...
Source: All Africa

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