US $16 Million Funding for Agriculture: What It means for Liberian Farmers
Access to loans still remains a serious challenge for many Liberian farmers as commercial banks in the country are not willing to lend farmers money. This is due to the fact that many farmers lack adequate collateral to be considered bankable.
To ensure that many farmers have access to loan to expand and increase production, President George M. Weah has announced a US$16 million grant from the World Bank to support smallholder farmers.
According to the Liberian President, the funding will be made available through the commercial banks to be given as loans to farmers at a reasonable interest rate.
The President made the pronouncement on Friday, February 12, 2021, when he launched this year’s National Agriculture Fair at the Central Agriculture Research Institution (CARI), in Suakoko, Bong County.