JIS News

The Agricultural Credit Board, during the 2004/2005 fiscal year, improved its management information system, through the installation of 10 computers and printers, in addition to relevant software.
This is among several achievements of the Board contained in a Ministry Paper that was tabled in the House of Representatives yesterday (Sept. 26) by Agriculture and Lands Minister, Roger Clarke.
Other accomplishments during the period under review include, completing the auditing of 38 branches of the People’s Cooperative (PC) Bank; researching 45 requests from the National Land Agency (NLA) on land settlers’ indebtedness prior to the issuing of their titles; and assisting with the promotion of agro-industrial development by encouraging four groups of PC Bank shareholders to establish processing plants.
The Agricultural Credit Board also researched nine of 10 recent problems identified within the PC banking system, and analysed data and disseminated findings to the Bank’s management to use accordingly.
The Board collaborated with the NLA on the United States Agency for International Development-sponsored dairy loan scheme, which resulted in the final survey and issuing of titles for properties at Lower and Upper Rhymesbury in Clarendon and Bogue Spring in St. Elizabeth.
During the review period, the Board continued to effect collections from dairy farmers, who had obtained loans from the dairy loan scheme for the development of dairy farms at Vernamfield, Rhymesbury, Cabbage Valley, Bogue Spring and Luana. A total amount of $95,311 was collected from borrowers for loans and survey fees.
In the meantime, some $770,030 in rental and insurance premiums, collected from settlers over the years, was paid over to the Ministry of Agriculture.
The Agricultural Credit Board is the monitoring and regulatory body established for the governance and control of the PC Banks. It is responsible for the development of the adequate information, control, evaluation, and reporting systems of the Banks to facilitate the process of accountability and effective management. It also has the authority to take over the management and control of any of the Banks, where the operations are reported to be unsatisfactory.