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This concern was echoed by State Minister for Investment Evelyne Anite, who recently wondered why these funds are underutilized and concentrated among just a handful of recipients.
KAMPALA, UGANDA – The Central Bank of Uganda has called on commercial banks to simplify access to the Agriculture Credit Facility funds, urging the Uganda Bankers’ Association to resolve internal bottlenecks hindering efficient lending.
“The problem was first at the institutional level of the memorandum of agreement, where we had issues to resolve. But then there is also a strategic issue with the financial institutions, which has to be addressed by the Uganda Bankers’ Association,” said Sarah Mubuuke, Head of Credit Appraisal and Publicity at the Bank of Uganda.
Mubuuke emphasized the need for financial institutions to address these strategic issues, noting that the Agriculture Credit Facility was established to support farmers. However, the facility has been underutilized, with few recipients benefiting from the funds.
This concern was echoed by State Minister for Investment Evelyne Anite, who recently wondered why these funds are underutilized and concentrated among just a handful of recipients.
The Seeds of Gold Farm Clinics, a Nation Media Group-Uganda initiative, aims to promote climate-smart farming practices. The clinics will be held in Lira, Bulambuli, and Kabale districts on June 29, July 27, and September 8, 2024, respectively.