Agribank credit line to support agricultural households and MSMEs

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The project is a development loan for the state development bank Agricultural Bank of Namibia (Agribank) to expand its business activities. The main business purpose of Agribank is to provide loans to individuals and companies to promote agriculture and similar activities. In doing so, Agribank also specifically supports national development strategies, such as the National Development Plan. The bank's target group consists mostly of smaller agricultural businesses (in full-time or part-time employment) that are either communally or commercially active in agriculture, but increasingly also of other agricultural or food processing SMEs. With access to needs-based financial products, the target group is enabled to use funds to expand and develop their agricultural or food processing activities, thereby generating additional income and increasing food production and income in Namibia. Furthermore, the project promotes the establishment of productive and resource-saving agriculture in order to increase food production in Namibia in a sustainable manner.