AGRIC. CREDIT CNCA II

closed

The project would be a three-year program for the development of farms selected for their development potential and priority. It would help finance medium and long-term investments for mechanization of grain farms in rainfed areas, citrus development through groundwater and plantation development, winter vegetable production, livestock development and packers' marketing facilities mainly for export produce. Total expected investment amounts to about $69 million of which more than 50 percent would be for tractors and other farm machinery, about 22 percent for citrus plantation development and about 13 percent for winter vegetable production. The project would involve about 8,000 loans to individual farmers, groups of farms and operators of packing facilities. Farms receiving loans would range in size from 5 to 50 ha on irrigated land, or from 15 to 200 ha on dry land.