24
THISDAY. THE SUNDAY NEWSPAPER ' JUNE 17.2012
BU51~IE 5 5/ MONEY
Again, CBN Mobilises FUlancing f~r Agric Business A new Claiit financing scheme introduced by the Central Bank of Nigeria can jumpstart the potentials of the agricultural sector of the economy, writes Festus Akari.bi
Auun.nc:e
Giving an insight into the ~ eX the new MIa '8""1 13'" the Held d. NIRSAL Pn:;!ct _ ........ Offi<r ....... tho """""""""' ~ Departmml of IN- CBN. Mr. Jude lkonwanoe. said the guilfilntee would be issued by the NlRSAL to the ~ in the state And Fer throooh commercial banb and otM financial J~tions. He ~ .N1RSAL mobilise5 financing lOr Nigman agnbusines ~ U5ing credit guarant~ 10 address the risk of defaull NlRSAL is a f1exilM fiNnc:ing tool dnigned 10 change
-
the behaviour 0( financial institutions. ..It COY'm all lTOD!!i and livetock. KiMties
.. ~--~ ..........
and ,00 0'N00n. II is also bw1difl8 on â&#x20AC;˘ legacy 01 prMou5 CBN inte"Ye1ti0n5 in ~turr thai has helped creal!! thQusands
OlItaJf'f'M.'5
~sa:ted
that the CBN progr.unl1V! was desa~ to create lI((1!SS 10 finat'lC'e by integrating md-to-md a~lture value chains
...... "",. pnxIu<M.lannm,
..
~.pc -..l ....... .ulm"~.~~
" '"
... ,
, Pili
" "'It-
'to""""'"
NlRSAL Targets The: initiative is auned at generalUl~ an addibonal $J billion of bank lendin~ WIthin 10)'!ars to increasIe .agriculturallmdinR from the rurmlt 1.4 10 7 percent oC totaf bank lending. It U;o S!eks 10 ~ Imding
to the"'pooled"smaD rarmer segment
10
SO