News
Millers shun rice crisis loan fund
Rice millers have taken up less than a quarter of a $27 million emergency loan fund to stabilise prices of the grain, blaming late disbursement for the poor take up. Following a price crash last year, the government told the Rural Development Bank to disburse the ...
Rice infrastructure bids sought
The Rural Development Bank has called for expressions of interest to develop and operate a 200,000 ton rice warehouse and a rice paddy drying facility. The drying facility would have the capacity to process 3,000 tons per day. The government is seeking to finance additional agricultural ...
Gov’t rice loans find few takers
It has been over two months since the government made available a $27 million emergency loan package to the beleaguered rice sector, yet only 5 percent of the funds have been disbursed. Officials from the state-owned bank in charge of issuing the loans claim the ...
Bank trims rate to coax millers
The state-owned bank entrusted with extending $27 million in emergency loans to millers to purchase rice paddy has marginally lowered the interest rate on these conditional loans in an effort to shorten some of the strings attached. The Rural Development Bank announced late on September 25 that ...
Terms announced on rice lending package
The government-owned bank charged with issuing $27 million in emergency loans to rice millers as part of an initiative aimed at propping up the struggling rice industry announced the terms of the credit lines on September 19, and said it would ensure that the funds ...
