Prime Minister Roosevelt Skerrit has announced that the government intends to put a minimum of $10-million in place for farmers in Dominica in the next national budget.
He was speaking at the official registration ceremony of the Belles Farmers Cooperative Society Ltd held at the Pilgrim Holiness Church in Belles on Thursday.
According to him, the monies will be placed in the AID Bank to assist farmers directly.
“In the budget of this year you will see a significant sum of monies that will be directed to farming in Dominica, not only farming access roads, not only support to the farmers through the various programmes in the Ministry of Agriculture, but we intend to put a minimum of $10 million…,” he said.
He said it will be for farmers with no working capital.
“The intention of this money is that many of us, as farmers, we do not have working capital, we do not have some money in our hands to be able to clear the land and pay the people right away, to pay for farm labour, to buy inputs and that is a major strain for farmers across Dominica,” Skerrit stated.
He remarked that farmers will be able to receive loans from the AID Bank at an interest rate of three percent with a grace period of no less than four months before they start paying back to the Bank.
“And plus, under the Banana Accompanying Measures, we have about $2.6 million that will go to farmers in terms of assisting you on the farm…” Skerrit said.