885 total views, 1 views today
The Agriculture Finance Corporation (AFC) plans to restructure most of its Sh8.7 billion loans to give farmers who have defaulted a chance to repay following difficulties that have been occasioned by the Covid-19 pandemic.
AFC chairman Franklin Bett said they are creating provisions that will enable the agency to restructure the debt, which will be done on a case-by-case basis.
“We are creating provisions that could see AFC restructure most of its Sh8.7 billion loan book with farmers getting a moratorium on case by case basis,” said Mr Bett.
Commercial banks have also been restructuring customer loans for those who were unable to pay due to the pandemic.