zb logo.jpgFarmers are set to benefit from ZB Financial Holdings’ US$30 million Summer Agro Bill lending facility for the 2010-2011 farming season.

 

The 2010-2011 summer cropping season got a boost after ZB Financial Holdings launched theUS$30 million Agro Bill Facility.
The 360 days bill will be channeled towards livestock production, poultry and summer crops.

 

Speaking on the sidelines of the launch, Executive Head of ZB’s Business Development Unit, Mr. Shadowsight Chiganze said, repayment will be made after the selling season and the payment period is negotiable. Mr. Chiganze said all farmers are eligible for funding as long as they satisfy the banks credit criteria.

 

 “We have launched this facility as the country is agro- based……These agro bills are different from others as they will be repaid as per agreed….” he said.

 

A poultry producer Mr. Solomon Salawa welcomed the facility, saying the funds will assist farmers to meet working capital requirements.

 

 “We are happy with the facility at least we can get on the ground and start working …….they go a long way and are manageable,said Mr Salawa.

 

A similar facility worthy US$7 million was launched in June this year to fund winter farming mainly tobacco, maize seed, cotton and wheat.

 

Government and farmer organisations have urged banks to offer long- term financing to the agricultural sector which is the mainstay of the economy.