Lending Institutions Urged to Give Attention to Agriculture

Photo: Rudranath Fraser Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Karl Samuda (left), is greeted by General Manager of the Jamaica National (JN) Group, Earl Jarrett, at the Jamaica Conference Centre, where the financial institution hosted a business luncheon on December 9.

Story Highlights

  • Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Karl Samuda, said financial institutions need to see agriculture as the “foundation” on which related industries can thrive.
  • He says he will be continuing his push for the sector to access loans at no more than four per cent, as agriculture is the most challenged sector, and investors in the industry and others in medium and small enterprises must get training and nurturing to position them for success.

Lending institutions are being urged to place attention on the agricultural sector, so that it can continue to deliver growth and earn foreign exchange.

Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Karl Samuda, said financial institutions need to see agriculture as the “foundation” on which related industries can thrive.

“It is within that sector we have the greatest potential to achieve the most foreign exchange,” the Minister said, while addressing a JN Small Business Loans Limited luncheon, held on December 9 at the Jamaica Conference Centre, in downtown Kingston.

He told the audience that he will be continuing his push for the sector to access loans at no more than four per cent, as agriculture is the most challenged sector, and investors in the industry and others in medium and small enterprises must get training and nurturing to position them for success.

The Minister said he is confident that once emphasis is placed on the union that must be forged between agriculture and the distributive trade, with increased support from the banking sector, Jamaica can build a robust economy.

The Minister said that with the establishment of a department in his Ministry that is dedicated to the Micro, Small and Medium-Size Enterprise sector, there is now greater support for that industry.

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