Ministry of Fisheries, Marine Resources and Agriculture has revealed loans worth over USD 130,000 have been released under the Dhanduveri Nafaa loan scheme introduced by SME Development Finance Corporation (SDFC).
The ministry stated a loan especially for the farmers was introduced to elevate the economy from farming and agriculture sector. SDFC is collaborating with the ministry to provide easily accessible financing options to parties involved in the agriculture sector. SDFC gives utmost importance to cater to the needs and requirements of agriculture sector as it is one of the priority sectors of the government.
Meanwhile, fisheries ministry revealed importance when issuing loans will be given to use of technology for farming including urban agriculture, protected farming, vertical farming and others in addition to poultry farming and livestock farming, agroforestry and plant nurseries.
The SME Bank began its services last March and has launched four loan schemes.