Land Bank enters into funding deal | Fin24
 
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Land Bank enters into funding deal

Jul 04 2012 17:24
Sapa

Johannesburg - The Land Bank and the African Development Bank have entered into a R1bn funding agreement to help emerging and commercial farmers get finance.

"Borrowing in [the] agricultural sector requires a grace period... until the project or farm starts generating cash flow to service the debt and to this end the emerging farmers will benefit from the two-year grace period," CEO Phakamani Hadebe said.

"The facility therefore goes a long way in mitigating risks associated with financing few farmers," Hadebe said.

land bank  |  african development bank  |  funding
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