Africa-Press – Lesotho. To promote food security, the Ministries of Finance and Development Planning (MoFDP), Ministry of Agriculture and Food Security (MoAFS) and Lesotho Post Bank (LPB) signed extension of LPB Credit Guarantee Facility (CGF).
The CGF Memorandum of understanding (MoU) for tractors, other farm machinery, equipment and related accessories were signed to the value of M200 million.
This in the presence of the Prime Minister (PM), Mr. Ntsokoane Matekane and other Cabinet Ministers including the media.
In her speech as the Guarantor, Dr. Rets’elisitsoe Matlanyane, MoFDP Minister said agriculture remains economic backbone of the country that will go a long way in addressing poverty and hunger.
She alluded that through this MoU extension, they are ensuring that at least 500 farmers across the country are able to access farming equipment with a 30 percent subsidy when accessing funds at LPB.
“With this money, government wishes to enhance its targeted goals of prioritising agriculture,” she stressed.
Similarly, the Minister of Agriculture, Mr. Thabo Mofosi said together with Extension Officers, the Ministry will guide farmers well so that farmers effectively produce in agriculture.
He appreciated farmers for previously paying their debts well with LPB in line with this initiative, despite the effects of climate change.
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