The overall objective is to promote rural economic development and diversification by improving access to credit for agricultural rural enterprises in Grenada.
The specific objectives of the programme are to:
- Create a sustainable and enabling environment for rural businesses;
- Strengthen credit institutions in ways that will enable them to increase the level of credit that they extend to agribusinesses and improve their own profitability;
- Provide technical support to agricultural entrepreneurs in ways that will enable them to meet the lending requirements of the credit institutions and improve the success of their venture;
- Identify and implement information technology platforms that will enhance the sharing of agricultural knowledge and facilitate agricultural commodities trading.
The expected results are:
- All credit institutions are exposed to best practice methods for lending to the agricultural sector;
- Credit institutions are facilitated in implementing financing programmes for the agricultural sector;
- The ratio of agricultural to personal credit extended by credit institutions is increased;
- Enhanced success rate of agricultural financing programmes implemented by credit institutions;
- Viable strategic alliances are forged between the credit institutions and other economic development agencies and associations to improve access to credit;
- Training and capacity building are provided to credit institutions to develop, deliver and manage credit facilities for agricultural enterprises development in particular;
- Identification and installation of an information technology platform (hardware and software) which will link programs of the Ministry, financial institutions and buyers of agricultural commodities with farmer;
- The flow of credit to agricultural enterprises by credit institutions is increased;
- The flow of credit to specially targeted socially vulnerable groups such as youth and women agricultural entrepreneurs is increased.