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Under the program, Chase Bank will disburse loans as low as Sh14,500 for the purchase of Amiran's Foundation Kit for starter farmers and Sh272,000 to the youth/FILE

Kenya

Farmers, youths to get loans under new deal

Under the program, Chase Bank will disburse loans as low as Sh14,500 for the purchase of Amiran's Foundation Kit for starter farmers and Sh272,000 to the youth/FILE

Under the program, Chase Bank will disburse loans as low as Sh14,500 for the purchase of Amiran’s Foundation Kit for starter farmers and Sh272,000 to the youth/FILE

NAIROBI, Kenya, Dec 16 – Chase Bank, Rafiki Deposit-Taking Microfinance and Amiran Kenya have announced a cooperative arrangement to disburse soft loans to farmers and the youth.

Under the program, Chase Bank will disburse loans as low as Sh14,500 for the purchase of Amiran’s Foundation Kit for starter farmers and Sh272,000 to the youth.

There will also be a separate package for large scale farmers which go beyond Sh1 million.

“Agriculture holds an important key to poverty reduction through increased productivity, value addition, improved technologies and linkages to other sectors,” Rafiki DTM CEO Daniel Mavindu noted.

With the lending programmes, Chase Bank, Amiran Kenya and Rafiki DTM will all focus on equipping farmers to produce more quality goods while also attracting international markets in a move to further open up Kenyans agricultural export industry.

“The survival of Kenya’s agriculture rests squarely on the youth who are the farmers and leaders of tomorrow. Two-thirds of Kenyans depend directly on agriculture for their livelihoods,” Chase Bank Deputy Executive Officer Paul Njaga said.

In addition to ensuring food security, Njaga noted that agriculture plays a vital role in supporting the economy and generating employment which is a greater step to realisation of Vision 2030.

Amiran Kenya will play the part of installing equipment, training the farmers by carrying out farm visits to ensure that farmers attain the best possible harvest, allowing them to clear off their loans calmly and at the expected time frame.

“This new lending initiatives further supports the use of modern farming techniques that work to conserve the country’s natural resources, contribute to more young people venturing into agribusiness as well as, improve quality of farmers produce by the use of Amiran’s modern and field proven technologies,” Pinhas Moskovich, Amiran Kenya Managing Director said.

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