Gambia: MoA, MFIs Endorse U.S.$3 Million Islamic Microfinance Credit Facility Contract
In its quest to contribute to the improvement of the livelihood of rural and peri-urban communities in The Gambia, the Ministry of Agriculture Friday signed a $3 million (three million dollars) contractual agreement with two microfinance institutions – Supersonicz Financial Limited and Gambia Teacher’s Union Islamic Cooperative Credit Union (GTU-ICCU).
The endorsement of the agreement was held at the Small Ruminant Production Enhancement Project (SRPEP) office in VISACA Apex Building, Brusubi Institutional Layout.
The signed contract, among other objectives, is to strengthen the productivity and resilience of production systems and stimulating entrepreneurship in the Small Ruminant Production/Businesses. And will specifically focus on assisting farmers with monies through Murabaha, Ijarah or Salam mode of financing to increase small ruminant production, breeding, fattening, marketing and value addition among others.
Courtesy by :https://allafrica.com/stories/202108100251.htm