EUROPEAN UNION INVESTS 46 BILLIONS IN UGANDA’ AGRICULTURE

.

Tamil pickers collecting tea leaves on plantation, Southern India

The European Union (EU), the international fund for agricultural development (IFAD) and the National social security fund (NSSF) have unveiled an investment in the agriculture value chain dubbed the Yield Uganda Investment Fund, an initial worth 46 billion shillings to provide needed access to capital for small and medium agri-business in Uganda.

This first ever new impact fund in Uganda is expected to attract additional 49.8 billion shillings by the end of 2017, to reach 95.8 billion shillings in total commitments.

The fund targets agriculture related business across all value chain including supply inputs, production and agro processing within all subsector, post Harvest storage and distribution, and also transportation, communications and certification and will benefit the economy by improving am estimated 100,000 rural household livelihoods, and 26,000 farmers, job creation among others.

The European Union Ambassador to Uganda, Kristian Schmidt, while unveiling the fund said the fund will offer presently lacking long term capital to entrepreneurs in agriculture sector, ensuring food security while generating income, foreign exchange and new export opportunities as a leaf to eradicate or meet the fight against poverty goal.

The International Fund for Agricultural Development (IFAD) country director for Uganda, Alessandra Marini, said government needs to engage more with private sector entities in order to boost the sector.

A

Be the first to comment

Leave a Reply

Your email address will not be published.


*