|With maize farmers|
|A storage facility|
UOB provided input financing for maize farmers in September 2011 through three cooperatives. The harvest has been more than projected, but maize farmers now have a concern about inadequate drying and storage facility. The final buyers of the maizes have not been decided yet, which remains another concern for the farmers. But, they are reasonably sure that the maizes will be sold at a reasonably good price soon.
UOB is now increasing its input financing for more farmers due to the growing demand. Having experienced that UOB provided input financing at an affordable interest rate in a timely manner, they have brought more farmers with confidence.
|Listening to farmers|
|Maizes stored for drying|
UOB is also increasing the number of agricultural finance officers to be able to accommodate the increase in demand. In 2011, UOB provided assistance for approximately 1,600 farmers and this year UOB plans to increase the number of target farmers to 6,000. Lord's willing, this will be made possible exceedingly.
Agricultural finance is a high risk business without adequate compensation for the risks it has to take. But it is one of the strategic industries that UOB must finance in order to carry out one of its triple bottom lines: Outreach, Sustainability and Transformational Impact. Lord, you know that we are moving forward with agricultural finance despite the risks embedded in it. Please give us your divine wisdom not to suffer unbearable losses due to the lack of intrastructure and to the lack of adequate risk mitigants. - Jeffrey
Post a Comment