In six months only, MIFA generated 15,000 jobs, and provided CFA1 billion of loans, among others

Agriculture
Wednesday, 09 January 2019 16:46
In six months only, MIFA generated 15,000 jobs, and provided CFA1 billion of loans, among others

(Togo First) - Six months only after it was launched, the agricultural financing incentive mechanism (MIFA) provided a little over CFA1 billion worth of loans to a total of 5,062 farmers, including 916 women. This is 84% of the number (6,000 farmers) initially aimed at, for the period.

Besides, nearly 12,000 producers were impacted via direct loans and others from aggregators. Also, 4,948 producers, of which 999 women, were given access to insurance, under the scheme.

The MIFA backed more than 120 farmers’ cooperatives, facilitating their access to financings and loans.

Last, over the period reviewed, a total of 15,055 jobs ; 5,363 direct and 9,702 indirect, were created through the MIFA.

The MIFA, let’s recall, is a scheme based on risk-sharing. It was launched on June 25, 2018, to encourage banks to lend more to agricultural value chains. Over the next three years, this mechanism plans to support a million farmers and agricultural players.

 
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Should we encourage young togolese toward agriculture?
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