Barrow confirms gov’t to introduce credit financing for agricultural investments

Sep 16, 2022, 12:00 PM | Article By: Pa Modou Cham

President Adama Barrow in his State of the Nation Address (SONA) stated that his government plans to create a fund that will carry about a 70% guarantee to the financial institutions for credit financing of agricultural investments by either individuals or SMEs.

President Barrow added that this would induce the needed capital to transform and modernise agriculture in the country.

Last year, he said the agriculture sector registered increases, above the national average, in the production levels of crops, such as paddy, maize, millet, groundnut, and sesame. 

“The production of key commodities, like vegetables, fruits, milk, and eggs also increased. As a result, the per capita availability of these food items has increased, even though both population and demand increased. Due to increased support from FAO and WFP, commercial poultry farming increased by about 40% in 2021.”

Mr. Barrow continued that the Ministry of Agriculture is implementing eight major projects, with a total portfolio of $294.13 million mobilised through partner support.

To boost the incomes of farming households, he said the government has in the past five years invested heavily to modernise and transform the agriculture sector.

“As a result, through donor-funded projects, the sector was able to reach three hundred communities, thus opening 6,000 hectares for rice cultivation, four hundred hectares for vegetable production and more than one hundred poultry schemes to boost the availability of poultry meat and locally produced eggs. These investments and their results have laid a solid foundation for the sector’s investment plan.”

On the environment, President Barrow said the international community recognises The Gambia as the only country on track to achieving the Paris Agreement temperature goal of 1.5 degrees centigrade by 2050.

He added that the country is vulnerable to the negative impact of Climate Change, as shown by the frequency of windstorms and floods. To mitigate this, he highlighted that the government developed relevant policy documents and implemented adaptation and resilience building projects amounting to $36 million in the past five years.

Dwelling on Basic and Secondary Education, the president explained that the country continues to register impressive progress at all levels of the education sector, saying it is pleasing that female students now have higher Gross Enrolment and Net Enrolment Rates at all levels, from ECD and Lower Basic to the Upper Basic and Senior Secondary School levels.

“With partner support, the government built 2,597 new classrooms and 3,116 toilet cubicles during the last five years. Additional 498 classrooms and 456 toilet cubicles are under construction and 1,076 rooms, for teacher accommodation, are already in use around the country. There are plans to increase the number to ease accommodation challenges for teachers.”

Read Other Articles In Headlines
Covid 19
Senegal confirms 121 new covid-19 cases
Jul 13, 2020, 11:23 AM

The Senegalese Ministry of Health of yesterday reported 121 new positive cases, bringing the country’s total number of infections to 8,135 positive cases with 5,446 recovered, 148 deaths and 2, 540 under treatment.

NEA executive
NEA executive director urges sound chemical management to protect lives
Apr 5, 2023, 11:25 AM

Dr. Dawda Badgie, executive director of National Environment Agency (NEA), has affirmed that since chemical production continues to increase globally, it could result in potential chemical exposure, and thus sound management of chemicals is vital for every nation to protect the lives of the population.

Touma Njai v3
Hon. Touma Njai in 100 most reputable Africans
Jan 12, 2023, 12:09 PM

Honourable Fatoutama Njai, National Assembly Member for Banjul South is in the 2023 list of 100 Most Reputable Africans released on January 5 by the Reputation Poll International (RPI), a leading global reputation firm.

Gambian Actors
ECOWAS trains Gambian Peace Actors ahead of election
Sep 10, 2021, 11:53 AM

The ECOWAS Permanent Mission in the Gambia on behalf of the ECOWAS Commission began a three day dialogue and mediation training as well as consultative forum with Gambian peace actors on Tuesday as means of support to the December election.