Central Bank tasks banks to ease access to agriculture credit facility funds
The Central Bank has urged commercial banks to ease access to the Agriculture credit facility funds under the Agricultural Credit Facility.
Sarah Mubuuke, the Head of Credit Appraisal and Publicity in the Agriculture and Other Credit Schemes Division at the Bank of Uganda, has urged the Uganda Bankers’ Association to resolve internal bottlenecks that are stopping some financial institutions from efficiently lending out these funds.
Her remarks come days after the state minister in charge of investment, Evelyne Anite wondered why these funds are underutilized and concentrated among just a handful of recipients.
Mubuuke was speaking during the launch of 36th edition of the Seeds of Gold Farm Clinics, a Nation Media Group- Uganda initiative held in Namuwongo, last evening.
“The problem was first at the institutional level of the memorandum of agreement where we had issues to resolve, but then there is also a strategic issue with the financial institutions which has to be addressed by the Uganda bankers assassination,” Ms. Mubuuke said.
Running under the theme, “Climate Smart Farming” this year, the Seeds of Gold Farm Clinics will be held on June 29th, July 27th, and September 8th 2024
The venues will be in Lira district at the Ngetta Zardi NARO institute, Bulambuli district at Buginyanya NARO institute, and Kabale district at Kachekano NARO institute respectively.
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