Government to introduce MVR 19 million loan scheme for agriculture sector

Minister of Fisheries and Agriculture Dr Mohamed Shainee has said that a loan scheme worth MVR 19 million will be introduced for the agriculture sector soon.

Speaking at an even to at Dharubaaruge on Thursday evening mark Agriculture Day, Shainee said that MVR 2.5 million will be provided as loans to the agriculture sector already next week.

He said that the interest rate for these loans will be lower than that for loans issued to other sector, which is a reflection of the priority given to the agriculture sector by President Abdulla Yameen Abdul Gayoom.

Referring to the natural disaster insurance scheme launched last night, Shainee said that with this insurance scheme, the government has “commenced efforts towards the achieving all of its policies”.

He assured that the agriculture sector will be strengthened and expanded, especially via the tourism sector, over the next five years.