Agricultural Development Fund allowed 111 Million Afghanis Loan

Aqrab 15: November 5, 2020
The Loan Development Committee of Agricultural Development Fund, in a meeting at the Headquarters of the Ministry of Agriculture, has planned to repay the Loan of 111 Million Afghanis Loan.
The meeting, chaired by Mahboubullah Nang, chairman of the Loan Appropriations Committee, and attended by officials from the Agricultural Development Fund, provided 111 Million Afghanis in loans for six Agricultural and Commercial activities.
Three of its activities are related to Agricultural Equipment and Machinery companies, which use the loan they take to purchase Agricultural machinery, including Tractors.
The loan for the fourth case belongs to one of the Cotton's Processing Companies, which uses this loan to buy Cotton from farmers.
The fifth and sixth cases are relevant to two Saffron and Silo Processing Companies.
These companies borrow to buy Saffron and Flour.
Aimal Arman, Executive Director of Agricultural Development Fund said, at the meeting that in the current difficult status he has not forgotten the Farmers and is committed to provide them with the loans which they need and are looking for in a timely manner.
The Agricultural Development Fund is a non-bank Government Financial Institution operating under the leadership of the Ministry of Agriculture, Livestock and Irrigation.  Providing lending services to farmers, Agricultural entrepreneurs through financial intermediation and direct lending for the growth and improvement of Agriculture is one of the main tasks of this Fund.
Since its inception, the fund has earmarked 2.12 Billion Afghanis and more than 3.9 Billion Afghanis to Agricultural businesses, cooperatives and Agricultural Associations, Financial intermediaries, Livestock farms, Fish farming, Poultry farming, Fruit processors and exporters. And distributing Dry, Flour Mills, Agricultural equipment companies, Chemical fertilizer importers and other Agricultural activists. Of these services, 531,451 farmers in 32 provinces have directly benefited.
The Agricultural Development Fund is a leading source of funding for the Agricultural sector.
It also has regional offices in Balkh, Herat, Bamyan, Kandahar and Nangarhar provinces.