A three-day training on technical assistance support for financial institutions working with the Federal Government of Nigeria IFAD VCDP Farmers for enhanced financial inclusiveness has commenced in Awka.
The training, organized by Anambra State Co-ordination Office of the Federal Government of Nigeria IFAD VCDP, attracted representatives of financial institutions, Extension Agents, Liaison Officers and the State Programme Management Unit.
while declaring the training open, the state Programme Co-ordinator, Federal Government of Nigeria IFAD VCDP, Mr Nnamdi Agwuncha, appealed to the financial institutions to give single digit interest loan to farmers to achieve food security.
Mr. Agwuncha also advocated timely processing of the requested loans by the financial institutions to enable farmers to catch up with their farming activities at the right time.
Giving the overview of VCDP Financial Inclusion Strategy, the National Rural Finance Officer, Federal Government of Nigeria IFAD VCDP, Mr. Seriki Musa, announced that the Federal Government of Nigeria IFAD VCDP, which is currently at its additional financing stage, will finally exit in 2024.
Mr. Musa noted that at the end of the three-day training, the Federal Government of Nigeria IFAD VCDP expects the financial institutions to draw an action plan on how to seamlessly work together with their beneficiaries after it’s exit.
Later in a paper titled ” Agricultural Credit Administration and Management”, a resource person from the department of Agric Economics and Extension, Nnamdi Azikiwe University Awka, Professor Charles Onugu, charged financial institutions to shun the fear of funding farmers while farmers should on their part have cohesive groups that have commonality activities.
Another resource person, Mrs. Ogonna Osuafor, who took the participants on “Understanding Principal of Responsible Investments in Agriculture”, defined it as a strategy and practice to incorporate environmental, social and governance factors in investment decisions and active ownership.
The training featured a question-and-answer session.
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