New Telegraph

70,000 farmers benefit from agric loan

Ecobank Nigeria has said it is supporting over 70,000 farmers with special loans to increase their capacity and yields during this year’s planting season, as part of its commitment to ensuring growth of the agricultural sector.
In a press release, the lender said apart from being one of its initiatives to promote entrepreneurship in the sector, the move also supports the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ Programme (ABP) for the 2020 wet season in collaboration with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN).
Responding to media enquiries on the participation of the bank in the CBN scheme, Head, Agribusiness, Ecobank Nigeria, Mojisola Oguntoyinbo, said the initiative spreads across the thirty-six states of the Federation and is one of the several concerted efforts on the part of the bank to support the government to create an ecosystem that gives small holder farmers access to funding and the required support to increase food production in the country.

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