Poor Harvests: Relief for farmers as govt hints at engaging banks to reschedule loans


Finance and National Planning Minister, Situmbeko Musokotwane, has said government is currently in the process of engaging commercial banks to discuss the rescheduling of loans obtained by farmers.

Musokotwane mentioned that government would also look into calls to have the loans under the government-initiated credit window rescheduled.

He explained that the initiative had been prompted by the crop failure as a result of drought.

He said this on Saturday when he and his Agriculture counterpart, Mtolo Phiri inspected the Zambeef farm in Chibombo.

Read more: Britain to support Zambia coordinate drought response plan

“We shall discuss with commercial banks to see how possible it is for them to reschedule loans for farmers who borrowed from them.

“And as a government, we are pushing for farm blocs. In the farm blocs, there would be large-scale producers, like what we are seeing here. There would be also medium scale producers,” Musokotwane said.
The minister, however, said the government was keen to see more farmers in farm blocs.

He said government wanted to ensure that every Zambian had food, as it was the only way they would be productive.

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