Latest update December 2nd, 2024 1:00 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Financing, innovation needed to drive agriculture value chain

Jul 28, 2014 News

Financing is one of the main challenges faced by agriculture value chains globally. Recently, over 700 participants from 81 countries gathered in the Kenyan capital, Nairobi to discuss and gain exposure to strategies for addressing this issue.
This is according to the Caribbean Agricultural Research & Development Institute (CARDI) in a press statement on the conference which was held from July 14 to 18.
CARDI stated that the conference was held at the Kenya School of Monetary Studies and was co–hosted by the Technical Centre for Agricultural and Rural Co-operation ACP-EU (CTA) under the theme ‘Revolutionizing finance for agro-value chains’.  This event formed part of an International Conference Series: Rethinking smallholder agriculture.
According to CARDI, focus was placed on access to financing since it is seen as a driver of agricultural growth and transformation in the ACP countries.
It was noted that in recent years, there have been significant value chain finance innovations in certain countries.
But, replication and adoption have been slow in other countries, hence the need for a conference to allow stakeholders to discuss and be exposed to these innovations.
CARDI stated that at the opening ceremony, the Vice President of Kenya opined that food security can only come about by making greater use of modern technology, including bio technology and developing a correct model for financing in order to bring down the cost of borrowing, among other things.
The Caribbean Farmers Network (CAFAN) and the Caribbean Agri-business Association (CABA) delivered presentations on their work programmes at the session titled ‘The Caribbean farmers challenge: factoring for farmers’, CARDI related.
The youths also made their presence felt at the conference, with one showcasing his digital platform – ‘Agrocentral’, which links small farmers and businesses; while another profiled the social blog site devoted to agricultural issues.’
CARDI informed that informative sessions were held in the areas of revolutionising finance for agriculture: the tools; policy development for agro-value chain finance; and cross-cutting issues in agro-value chain finance (climate change, women and youth).
The first day of the Conference included a presentation titled ‘Plug and Play’ which showcased a range of ICTs and mobile platforms being implemented to support access to agriculture finance along the value chain.
Some of the areas covered by ICT platforms include provision of better information to banks, mobile and other financial institutions to aid granting of credit; and digital applications facilitating effective linkages among farmers, businesses and banks for easy access to finance.
The conference also addressed best practices in agricultural value chain finance; risk management tools for agricultural finance; building a successful agro-value chain; investment funds; crowd funding for ACP agriculture: initiatives, challenges and perspectives; and positioning farmers’ organisations in agro-value chain finance debate.
CARDI stated that at the conference the Caribbean team agreed to create a platform to bring financial institutions together and sensitise them about the agriculture sectors and its financial needs. In addition, the Caribbean will give consideration to ICT platforms for farm applications.
The Caribbean was represented by 15 participants from the private sector (buyers, producers, and micro finance companies) and facilitating agencies, CARDI, Inter-American Institute for Cooperation on Agriculture (IICA), the Caribbean Development Bank (CDB), CAFAN and the Caribbean Agri-business Association (CABA). (Kassim Khan)

Similar Articles

The Glenn Lall Show | November, 20th, 2024

Follow on Tik Tok @Glennlall

 

THE BLUNT OF THE DAY

Sports

Wharton’s brilliance propels Chase’s Academic to another Republic Bank U18 title

Wharton’s brilliance propels Chase’s Academic to another Republic...

Dec 02, 2024

Kaieteur Sports- Chase’s Academic Foundation reaffirmed their dominance in the Republic Bank eight-team Under-18 Football League by storming to an emphatic 8-1 victory over Dolphin Secondary in the...
Read More
Seales’ 4 for 5 gives West Indies control as Bangladesh fold for 164

Seales’ 4 for 5 gives West Indies control...

Dec 02, 2024

WARRIORS BOUNCE BACK AGAINST HAMPSHIRE

WARRIORS BOUNCE BACK AGAINST HAMPSHIRE

Dec 02, 2024

Victoria go top with second win

Victoria go top with second win

Dec 02, 2024

GFF and Namilco officially launch Maid Marian Wheat Up Women’s Cup

GFF and Namilco officially launch Maid Marian...

Dec 02, 2024

GFF celebrates the successful completion of Georgetown Girls’ Football Festival

GFF celebrates the successful completion of...

Dec 02, 2024

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]