ZANACO and the European Investment Bank have agreed to a credit facility worth 30 million euros.
The fund aims to increase smallholder farmers’ involvement in market-integrated nutrition value chains.
According to JACEK JANKOWSKI, head of the European Union delegation to Zambia, the EIB has mobilized a loan to be distributed as credit facilities to various lending institutions, with ZANACO being the first to benefit.
ZANACO’s Chief Executive Officer, MUKWANDI CHIBESAKUNDA, further stated that the bank is committed to helping the agriculture sector thrive through a variety of programs.
After the two financial institutions signed the agreement, she said this.
The government’s commitment to transforming the agriculture industry has also been reaffirmed by REUBEN MTOLO, the minister of agriculture.
He stated that this would be accomplished through maximizing the sector’s potential and turning the nation become the region’s main producer of food.
The export of maize by Zambia to other nations has been mentioned by Mr. MTOLO as one of the steps the government is putting into place to expand its export markets.