The Deputy Governor of the Bank of Uganda, Prof. Augustus Nuwagaba, has urged farmers in the Bunyoro sub-region to take advantage of the Agricultural Credit Facility (ACF) to boost productivity and expand commercial farming.

Speaking during a town hall meeting held at Country Inn Hotel in Masindi Municipality on Friday, Prof. Nuwagaba said the facility is designed to provide farmers with access to affordable medium- and long-term financing to support agricultural development.

He explained that the ACF aims to promote the commercialization and modernization of agriculture by addressing key challenges such as limited infrastructure, climate variability, and inadequate access to finance.

The facility supports a wide range of activities across the agricultural value chain, including the acquisition of machinery, irrigation systems, post-harvest storage, farm inputs, and other productive assets. It also supports land development and on-farm infrastructure to help improve productivity.

Administered by the Bank of Uganda in partnership with commercial banks, the Uganda Development Bank, Micro Deposit-Taking Institutions, and other credit institutions, the programme works through Participating Financial Institutions that channel funds to eligible applicants.

Prof. Nuwagaba noted that the fund prioritizes projects involved in agriculture, agro-processing, mechanization, and modernization of farming practices.

He encouraged farmers and agribusiness operators to take advantage of the opportunity to invest in productivity-enhancing technologies and improve their livelihoods through structured financing.

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