White Potato Credit Facility announced to benefit farmers

Dominica: Dominica Aid Bank in collaboration with the Ministry of Agriculture, Fisheries and the Blue and Green Economy introduced a white potatoes credit facility to benefit the farmers.

This facility includes 3.5% interest rate and the loan ranging between $ 8100 and $ 672,000 with the grace period of 4 months. And, the objectives of this facility include:

• Eat what is grown
• Import substitution
• Self-sufficiency in white potato production
• Contribution towards the Food Import Bill

This will benefit the people engaged in it with certain benefits as the season is in full swing and the land preparations have already begun as the White Potato Season is on the top of the Ministry’s agenda.

Connecting to it, an Agriculture Minister, technical officers of the ministry, DEXIA and AID Bank had a meeting with the commercial farmers to discuss the issues related to crop establishment and marketing.

This meeting was also aimed at ensuring the strategies to be discussed which can help in meeting the planned targets within the set timelines for a successful season. This has ensured a better and successful planting of the white potatoes in the country.

Considerably, even the potato seeds were tested before to ensure the successful growth. As the seeds were tested, farmers and the groups prepared the seeds for sale, distribution, collection and the establishment of both the varieties, Spunta and Desire. 

And, the seeds will be sold at a highly subsidized price and farmers will also receive free of charge, Triple Super Phosphate (TSP) as per the required ratio of seeds to fertilizers and other nutrients.

Probing ahead, under the credit facility, AID Bank and the ministry will provide support to the commercial farmers seeking to borrow funds from other institutions. And, the ministry has committed to also provide greater assistance with scheduled tilling services and guidance for crop establishment.

The crop establishment will make contributions to boost the economy of the country.