Southern Sudan to Set up Own Agricultural Bank
JUBA---The government of Southern Sudan is determined to set up its own agricultural bank as a mechanism to boost food security among its population, Anne Itto Leonardo, the regional Agriculture and Forestry Minister said Thursday. The semi-autonomous region is due to gain independence in July this year after southerners overwhelmingly voted for separation on the January self-determination referendum.
The bill that gives a guarantee for the establishment of the agricultural bank, the minister revealed, is currently being discussed in Southern Sudan Legislative Assembly (SSLA). "We need to mobilize resources to run these agricultural banks. Operating a bank, as you all know requires lots of money. As a government, we remain committed towards serving our people. The moment this bill is passed and we have the resources at hand, then we can establish these banks," she said.
With over 90 percent of the southern population actively involved in small scale farming mainly in rural areas, the minister said government will strive to provide the technical assistance needed to guide farmers involved in agricultural activities. Meanwhile plans are also underway to boost capacities of farmers through provision of tractors payable in installments. The initiative is being undertaken by the ministry in collaboration with the agricultural bank of Sudan. Under this arrangement, a farmer with collateral security pays SDG (Sudanese Pounds) 3,000 and acquires a tractor, with a SDG 10,000 paid annually on installment basis. A tractor costs between SDG 70,000-80,000 depending on the type. "We expect this initiative to boost our farmers given that food security remains government's top priority in the post-referendum period," Rual Makwi Thiang, the regional manager of the agricultural bank told Sudan Tribune.
Formed in 1959, the Agricultural Bank of Sudan which has a strong outreach currently operates in southern Sudan states of Upper Nile, Warrap and Central Equatoria. It mainly provides support to farmers in form of loans, seeds and other technical services.
Source: Sudan Tribune/Africa Infoserv