Togo: In August-September 2019, the MIFA loaned XOF3.8 billion to the agricultural sector

Agriculture
Tuesday, 15 October 2019 13:58
Togo: In August-September 2019, the MIFA loaned XOF3.8 billion to the agricultural sector

(Togo First) - Between August and September 2019, the Mechanism for the Promotion of Agricultural Financing (Mifa SA) based on risk-sharing, eased the provision of a little more than XOF3.8 billion of loans to actors of the agricultural value chain by financial institutions.

The funds which benefited both farmers and owners of agro-food processing units and agricultural service providers helped finance 200 projects. Overall, there were 51,667 registered beneficiaries for a total of 85,951 jobs impacted, according to Mifa SA.

Of all the projects that profited from the funding, rice, soybeans and input projects gained the most, securing more than 80% of allocated monies.

In detail, 52% was dedicated to input, 16% to produce and sell soybeans, and 13% to produce rice.

Next, are poultry (5%), sesame production (5%), production and transformation of tomatoes (3%), and maize production (2%).

Ayi Renaud Dossavi

togofirst mobile

 
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