255 Million AFS Agricultural Loan approved
Jawza 19: June 9, 2021
The meeting of Supreme Council of Agricultural Development Fund(ADF), chaired by Dr. Anwarul Haq Ahady, minister of agriculture and chairman of supreme council of Agricultural Development Fund, 255 million AFS agricultural loans has been approved.
Dr. Anwarul Haq Ahady, MAIL minister, while appreciating the activities of the members of this council, spoke the high importance of loans in agriculture and praised the role of Agricultural Development Fund.
Dr. Aimal Arman, ADF directors, briefed the members of Council on the specified objectives, achievements and recent progress of the Fund in granting loans to agricultural businesses, collecting hard-to-reach loans, the number of benefited farmers and other matters.
At this meeting, the technical team of ADF submitted two loan applications to High Council and provided information to the council members about the activities of the loan applicants. Approved loan offers relate to two companies active in the field of agriculture. One of these companies is a food industry company which will use the money to purchase wheat from local farmers and meet its needs. The second borrower is a carton manufacturing company which is going to use the money to purchase carton printing machines and boost the quality of its products.
ADF is a non-bank government financial institution operating under the leadership of MAIL which is providing lending services to farmers and agricultural entrepreneurs through financial intermediation and direct lending for the growth and improvement of Afghanistan's agriculture is one of the main functions of this fund. The fund has approved 13, 4 billion AFS and has so far lent 1.7 billion afghanis to agricultural businesses, agricultural cooperatives and associations, financial intermediaries, livestock farms, fish farming, poultry, processors and exporters of fresh fruits and nuts. Has distributed flour mills, agricultural equipment companies, chemical fertilizer sellers and importers, and other agricultural entrepreneurs. More than 56000 farmers have benefited directly from these services in 32 provinces.
It should be noted that in this meeting, the Fund's one-year work plan, amendment of human resources (HR) procedure (with some changes), amendment of Fund's lending policy and budget were also approved.