The financial package put together by the Agriculture Marketing Authority together with the Bank of the South Pacific will assist 61 percent of the households that depend solely on farming.
While officiating at the signing of the agreement between AMA and BSP this afternoon, Agriculture Minister Dr Mahendra Reddy says 68,000 farming families in Fiji need financial services.
Dr Reddy says the financial package includes soft loans, farmers issued a contract with AMA and supporting exporters.
“Bank of the South Pacific, it will provide the following services to contracted farmers not only to AMA but also to Agriculture Exporters. BSP will provide financial literacy training to farmers at their regional locations. BSP will register these farmers for SMS banking services.”
He says that 61 percent of agriculture households reside in rural areas and have limited access to basic financial services and this new initiative will benefit them.
The Minister says the new initiative will help revive the agriculture sector during this difficult time.