Farmers demand reduction in interest rates

Atia (Ashanti Region) 17 March '99

Farmers in the Ejisu-Juaben district in the Ashanti Region have asked for a reduction in the interest rate on agricultural loans which they described as "high and a disincentive". They contended that a downward review of the rate will not only make recovery of such loans easier but also motivate more small-scale farmers to go for bank credits to expand their farms. This was the consensus at the district's farmers forum held at Atia to discuss ways of improving agriculture in the area. It was attended by food crop and livestock farmers, agriculturists, researchers, chiefs, assembly members, representatives of financial institutions and students. The farmers also called on the banks to relax conditions for the granting of agricultural credits so as to entice the youth into agriculture and thereby solve the unemployment problems facing the country. Earlier, Miss Rose Oteng, the District Chief Executive, asked chiefs and family heads in the area to make land easily available to young people who show interest in going into farming.