{"id":29987,"date":"2022-08-26T20:02:48","date_gmt":"2022-08-26T20:02:48","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers"},"modified":"2022-08-26T20:55:18","modified_gmt":"2022-08-26T20:55:18","slug":"government-dangles-3-million-to-commercial-farmers","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers","title":{"rendered":"Government dangles $3 million to commercial farmers"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>Commercial farmers can now easily access start-up credit or working capital from local commercial banks under the recently launched $3 million Partial Credit Guarantee Scheme by the government.<\/p>\n

The money will be used as 70 percent collateral when the farmers intend to access the loans. The funding window was launched in Blantyre over the weekend.<\/p>\n

Speaking during the launch, Minister of Agriculture Lobin Lowe said the scheme is part of the government\u2019s drive towards agriculture commercialisaion in line with aspirations embedded in the Malawi 2063.<\/p>\n

\u201cMy message to banks is that they should be fair to farmers by processing these loans fast because agriculture is seasonal, it will be unfair to give a loan to a farmer in January or February while the farming season starts around October,\u201d he said.<\/p>\n

The project is being financed by the World Bank. World Bank Country Manager Hugh Riddell said as agriculture remains Malawi economy\u2019s backbone, the project is aimed at scaling up production.<\/p>\n

One of the beneficiaries, Mwandama Corporative Union, has already accessed K79 million from FDH Bank through the window. The cooperative\u2019s Manager Bornwell Kaunga said the scheme has relieved them from the stress of access to finance.<\/p>\n

\u201cApart from helping us with easy access to loans, this scheme will help banks to have confidence in us because they will see how we will be able to repay the loan and I believe in future they will be willing to offer credit even without government guarantee,\u201d he said.<\/p>\n

The first pillar of the Malawi 2063 blue print is agriculture productivity and commercialisation where the country\u2019s goal is to see improved agriculture for the economy.<\/p>\n

Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk. He is however flexible as he also writes about current affairs and national issues.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. Commercial farmers can now easily access start-up credit or working capital from local commercial banks under the recently launched $3 million Partial Credit Guarantee Scheme by the government. The money will be used as 70 percent collateral when the farmers intend to access the loans. The funding window was launched in Blantyre […]<\/p>\n","protected":false},"author":84,"featured_media":29986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,5103,1022,234,3728],"class_list":["post-29987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-commercial-farmers","tag-lobin-lowe","tag-malawi","tag-malawi-2063"],"yoast_head":"\nGovernment dangles $3 million to commercial farmers - Malawi<\/title>\n<meta name=\"description\" content=\"Commercial farmers can now easily access start-up credit or working capital from local commercial banks under the recent ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government dangles $3 million to commercial farmers\" \/>\n<meta property=\"og:description\" content=\"Commercial farmers can now easily access start-up credit or working capital from local commercial banks under the recent ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-26T20:02:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-26T20:55:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/08\/postQueueImg_13-6309331ad9ef5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1464\" \/>\n\t<meta property=\"og:image:height\" content=\"913\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government dangles $3 million to commercial farmers\",\"datePublished\":\"2022-08-26T20:02:48+00:00\",\"dateModified\":\"2022-08-26T20:55:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers\"},\"wordCount\":321,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/08\/postQueueImg_13-6309331ad9ef5.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Commercial farmers\",\"Lobin Lowe\",\"Malawi\",\"Malawi 2063\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-dangles-3-million-to-commercial-farmers\",\"name\":\"Government dangles $3 million to commercial farmers - 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