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Afghanistan receives $6mn in loan for agriculture development

in Afghan Business

Afghanistan receives $6mn in loan for agriculture development

The Afghan government has received USD 6mn in loan which will go to farmers, small entrepreneurs and agricultural producers to produce, process and pack their products in accordance with the international standards.

An agreement to that effect was signed between the Afghan Ministry of Agriculture, Irrigation and Livestock (MAIL) and micro finance institutions–the First Micro-Finance Bank of Afghanistan and Afghan Rural Finance Company.

According to a statement by MAIL, the funds have been prepared by Agriculture Development Fund (ADF) and will be distributed during the current solar year (1395).

The deal covers at least 3,000 famers who will receive the funds from the First Micro-Finance Bank of Afghanistan and the Afghan Rural Finance Company.

According to MAIL, the funds will help the agriculture sector to purchase standard technical equipment to develop the sector.

The Agriculture Development Fund (ADF) has provided loans worth of AFN 4,429,000,000 to 35,000 farmers and activists of agriculture sector since 2010, covering 33 provinces.



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