Farmers and extension officers were yesterday exposed to better financial management practices during a one-day workshop at the National Stadium, facilitated by Natasha Joseph attached to the Grenada Development Bank
It was in an effort to develop improved access to finances, along with mindsets that lead to financial success.
The Grenada Development Bank, GDB, which was created in 1965 to support the Agricultural sector, and while it’s said to be still concerned about agriculture and fisheries in relation to non-performing loans, it makes note of financial opportunities have been initiated to include youth, value addition, and the use of relevant technology within the sector.
The GDB General Manager is Mervin Lord.
Recently, the GDB signed on to the Eastern Caribbean Partial Credit Guarantee Corporation, which provides an option to use up to 75% of 300,000 dollars as collateral, increasing the opportunity for financial funding.
Farmers Representative in the Senate, Roderick St. Clair, applauds the initiative.
He went on to state that proper financial management practices encourage farmers to plan and execute their business ventures efficiently.
Underscoring the role agriculture plays in the country’s Gross Domestic Product (GDP), rural economies and food security, Minister for Agriculture, Peter David, commended the GDB.
He says it’s vital that farmers have access to funding and starting the capacity building initiative for farmers as it relates to financial management is a welcome achievement.
