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 ...

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 ...

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