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This poll has completed. It ran from Feb. 15, 2015, 11:12 p.m. through Feb. 22, 2015, 9:10 p.m.
Have you ever applied for an agricultural loan?
Background
Agriculture employs over 80 percent of
Uganda’s population especially in the rural areas. Favorable
agricultural financing, especially to small scale farmers, is
critical to its growth since it will improve output and value
addition.
In 2010, the government of Uganda in partnership with
financial institutions including commercial banks and credit
institutions, started the Agricultural Credit Facility, to provide
favorable medium and long term loans to projects engaged in
agriculture and agro-processing.
While speaking at a
function organized by Uganda Manufacturers Association (UMA) in April
2013, Dr. Samuel Sejjaaka, the Chairman of the Uganda Development
Bank, indicated that the uptake of the credit facility is still very
low and that a lot of money is lying idle at Bank of Uganda.
Some of the reasons cited in the low uptake
of agricultural credit facility is a lack of awareness, stringent
conditions set by some commercial banks like requiring farmers to
present business plans before accessing the facility and sometimes
commercial banks charging higher interest rates than those set up by
the Bank of Uganda.
QUESTION
Have
you ever applied for an agricultural loan?
A. No, the
interest rates are too high
B. No, the requirements are
difficult to meet (like writing a business plan)
C. No, I was
not aware of these loans
Instructions
Go to Messages on your mobile phone. Type LIFE followed by your DISTRICT and then your answer. Send that to 8585. This SMS is TOTALLY FREE OF CHARGE.
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