Delivering a keynote address at the launch of the Agricultural Finance Yearbook 2024 by the Economic Policy Research Center (EPRC) on Tuesday, Bank of Uganda Governor Michael Atingi-Ego said sustainable agricultural financing requires more than just capital as it demands innovative approaches that address the whole ecosystem of constraints affecting farmers. He added that while agriculture contributes to half of Uganda’s export earnings, the sector has not had sustainable funding and financing, and financial institutions have largely shied away from offering farmers credit.
Atingi-Ego said that instead of keeping hundreds of cattle the Karimojong pastoralists would take advantage of the Agriculture Credit Facility (ACF) to venture into modern cattle keeping for daily and reliable income.
Green finance is structured financial product created to ensure a better environmental outcome and a more resilient future. The product provides credit for agribusiness ventures, offers guarantee to the agribusiness loans and promotes Environmental, Social and good Governance (ESG) practices in the financial services sector.
