Jamaica - Improved deal for pig farmers
http://www.jamaicaobserver.com/news/Improved-deal-for-pig-farmers_8002318
30-Sep-2010 (15 years 8 months 10 days ago)Agriculture and Fisheries Minister Dr Christopher Tufton is hopeful that a new concessionary loan programme for pig farmers will over time help to reverse a projected "slight dip" in pork production this year.
Tufton said applicants could qualify for loans up to $2 million in some cases under the programme funded by the Development Bank of Jamaica and the National People's Cooperative Bank in collaboration with the Ministry of Agriculture.
Loans will be made for both breeding and fattening purposes, the minister said.
For breeding, the loans will be for four years with a one year moratorium. The fattening programme loan will be for six to seven months repayable at the end of the loan period. Both loan types will have an interest rate of 10 per cent on the reducing balance and at the end borrowers will receive two per cent of the loan -- deposited in a bank account as part of a push to encourage the "habit of saving".
Tufton said applicants could qualify for loans up to $2 million in some cases under the programme funded by the Development Bank of Jamaica and the National People's Cooperative Bank in collaboration with the Ministry of Agriculture.
Loans will be made for both breeding and fattening purposes, the minister said.
For breeding, the loans will be for four years with a one year moratorium. The fattening programme loan will be for six to seven months repayable at the end of the loan period. Both loan types will have an interest rate of 10 per cent on the reducing balance and at the end borrowers will receive two per cent of the loan -- deposited in a bank account as part of a push to encourage the "habit of saving".