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Banks urged to approve cheap loans for farmers

NEWS
By Boaz Kipngenoh | May 26th 2015

Financial institutions have been urged to offer affordable loans to farmers in order to help increase agricultural production.

Nakuru Governor Kinuthia Mbugua asked banks and co-operatives to fund farmers with enough credit. He noted that agriculture is the backbone of every strong economy, adding that a country with food surplus develops faster.

He made the remarks in a speech delivered on his behalf by County Executive in charge of Agriculture Dr Stanley Chepkwony during the official launch of the Jamii Bora Bank in Nakuru yesterday. He said if farmers access enough funds for mechanisation and farm innovations, the country would move faster towards industrialisation and realisation of her development goals.

Jamii Bora Bank’s Chief Executive Sam Kimani said the bank has rolled out unique products to help ago-business industry and real estate development in the region.

 “We have innovative products which are tailor-made for different financial help seekers,” he said during the ceremony. 

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