From Aniekan Aniekan, Calabar
Cross River State farmers and agric businesses has been earmarked to benefit from a one hundred and fifty billion naira credit guarantee scheme.
This was disclosed during the launch of Project Grow an initiative that aims to provide essential support to farmers and agribusinesses, ensuring access to credit, market opportunities, and a conducive ecosystem for agricultural development.
‘Project Grow’ is strategically designed as a market systems development project, leveraging market dynamics to drive private sector investments across key agricultural value chains which include Rice, Maize, Aquaculture, Cassava, and Animal Fodder.
The cornerstone of the project lies in the establishment of a cash backed credit guarantee fund scheme from the Cross River State government for six years.
Besides mobilizing NGN 150 billion in investments, the project aspires to benefit 100,000 small holder farmers and 500 agribusiness enterprises within the span of six years.
Speaking after the launch of the project, Ambassador Hussaini Coomassie, the global vice chairman International Commission for Peace and Good Governance and head of mission International Peace Commission Nigeria said five states will benefit from it and Cross River will pioneer it.
He said the project will be further extended to Taraba, Katsina, Kano and Kaduna.
On his part, Johnson Ebokpo, the commissioner for crops and irrigation development welcomed the investment stressing that the governor is in a hurry to close the gaos around agriculture as it hopes to use it to transform the economy.