Faulu Bank Announces KSH 1.5B Credit Line for Farmers

Source: Kenya Broadcasting Corporation

Faulu Microfinance Bank has committed KSH 1.5 billion (≈ $11.424.219,30) to enable farmers in the country purchase farm and animal inputs.

The credit facility targeting 47 counties is expected to help the country boost food security efforts by increasing production capacity as the country awaits long rain season after months of poor rainfall that has led to drought and famine.

According to Faulu Microfinance Bank Managing Director Apollo Njoroge, the lender seeks to offer flexible and affordable agribusiness loans repayable in bullets or through moratoriums to farmers.