KENYA SECURES 10 BLN SHILLINGS LOAN FROM INDIAN EXIM BANK

NAIROBI– The Kenyan government has secured a 10 billion shillings (about 100 million US dollars) loan facility from the Export-Import (Exim) Bank of India for a project to mechanize agriculture in this country.

Agriculture Cabinet Secretary (Minister) Mwangi Kiunjuri, whi disclosed this here Thursday, said the credit facility would be used to purchase tractors for small-scale farmers to rent as well as to make available to them better-yielding potato and pyrethrum seedlings.

The funds would also be used to finance for the purchase and distribution of 11 million high- yielding potato and 26 million pyrethrum seedlings.

Small-scale farmers in Kenya are being encouraged to amalgamate their farms to enjoy economies of scale and make it easier to mechanize their farming activities.

The government has also urged companies to establish technology and innovation hubs at the grassroots levels to help farmers embrace modern farming practices.

Source: NAM NEWS NETWORK