2 Sep 2011

Vanuatu bank sees need to help Efate farmers

1:07 pm on 2 September 2011

Vanuatu's Agriculture Development Bank chief executive, Tukana Bovoro, says there's a need for loan assistance to farmers in the Teouma of south Efate, a region known as the food bowl for the capital, Port Vila.

Mr Bovoro says while commercial banks won't give the farmers loans the Agriculture Bank is prepared to help.

He says it's working closely with the Department of Agriculture to make sure that the farmers don't undercharge for their produce and understand the importance of paying back their loans every three months.

To date Agriculture Bank has only given loans to foreign farmers because they've been able to assure security.