Southwest: Thirty Extra Village Banks To Be Created To Assist Farmers Financially

There will be the creation of 30 more village banks in the Southwest region to support the projects of farmers.

This comes as part of the implementation of the Agricultural and Value Chain Development Project (AIVDP) in the Southwest region.

“One of the difficulties that farmers face in their activities is lack of credit,” Dr Besong Ntui Ogork said during the 6th Ordinary Project Steering Committee Meeting at the Mountain Hotel in Buea, on March 28, 2023.

He also added that “When most of these farmers go to commercial banks, they always have this challenge of collateral and most of the commercial banks don’t cooperate in rural areas.”

Thus there’s the need to open extra banks so as to aid more farmers with the necessary finance for thier activities.

Present was the Minister of Agriculture Gabriel Mbairobe, who applauded the growth realised so far but indicated that there’s need for more to be done.

This comes to add to the already existing 55 others including several projects to be executed this year – construction and rehabilitation of roads, construction of greenhouses for cocoa farmers in addition to others.

To run activities for this 2023, a budget of 17 billion FCFA has been adopted.

Picture credit : FAKO NEWS CENTRE

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