Ecobank Nigeria has announced plans to increase its agriculture support loans to over N50 billion in the next one year. This according to the bank is in line with its policy to support the growth and development of the agriculture sub-sector of the economy.
The bank?s country head, agriculture and export finance, Abel Ajala who disclosed this said that the bank has introduced concessionary interest rates for its agriculture finance scheme, as well as created a robust agriculture and export units manned by professionals for easy loan risk assessment, ensuring that beneficiaries utilize fund given to them judiciously.
Ajala noted that Ecobank is currently supporting the agriculture value chain that comprises the producers, the processors and markets/exporters of agricultural products. He reiterated that the focus on the agricultural sector has become necessary to stem an impending food crisis on the continent.
