AgriBank grants loans of N$44-mil in 2006

AGRIBANK has granted worth N$44,4 million to 264 beneficiaries during the past year.

Some N$15,4 million went to eleven black farmers under the Affirmative Action Loan Scheme to buy farms, the Bank said yesterday. N$16 million was paid out to 130 clients to buy livestock, Chief Executive Officer Leonard Ipumbu said in a statement.The sum of N$2,7 million was granted as a loan to 84 small-scale farmers at Etunda in north-western Namibia, channelled through the Ministry of Agriculture.”AgriBank intends to raise N$995 million over a period of five years at affordable interest rates to enable the financing of capital projects in the agriculture industry,” Ipumbu said.Debt collection improved over the past year and loan payments of between N$12 and N$15 million are received per month.”This compares well to N$4 to N$7 million paid monthly in previous years,” according to AgriBank.N$16 million was paid out to 130 clients to buy livestock, Chief Executive Officer Leonard Ipumbu said in a statement.The sum of N$2,7 million was granted as a loan to 84 small-scale farmers at Etunda in north-western Namibia, channelled through the Ministry of Agriculture.”AgriBank intends to raise N$995 million over a period of five years at affordable interest rates to enable the financing of capital projects in the agriculture industry,” Ipumbu said.Debt collection improved over the past year and loan payments of between N$12 and N$15 million are received per month.”This compares well to N$4 to N$7 million paid monthly in previous years,” according to AgriBank.