Minister of Agriculture and Fisheries, Hon. Floyd Green, is calling on financial institutions to provide low-cost capital for farmers and fishers.
The Minister, who was addressing a post-Sectoral Debate media briefing held virtually on Thursday (May 13), said that farmers and fishers are being held back due to the inability to access affordable financing.
He said that “significant conversation” on the issue had started last year with the onset of the coronavirus (COVID-19) pandemic. However, he noted that, to date, “we still have not seen the private sector respond in a tangible way”.
Minister Green informed that he has met with the Development Bank of Jamaica (DBJ) and the entity is earmarking a segment of its credit enhancement facility to provide for agriculture loans.
“We are also looking to utilise our credit unions more, so that our farmers and fishers can truly access these loans,” he said.
He noted that “the reality is that our financial services really need to step up to the plate and provide low-cost capital, so that our entrepreneurs in farming and fisheries can expand”.