AGRIC. CREDIT I

closed

Closed

The proposed project aims at providing the impetus needed to make the Government's new agricultural and fisheries credit system operational and at contributing to food production, thereby reducing the country's dependence on food and feed imports. This would be accomplished through the provision of credit for on-farm development, agro-industries development and construction of fishing vessels, and through the strengthening of the project implementation agencies. About 25,300 individuals would benefit directly from the project, 18% of whom at present have incomes below the relative poverty level. The project's principal quantifiable benefit would be its contribution to increasing national agricultural output and hence to improving the foreign exchange balance by a net savings estimated at US$51 million at full development. The development of a viable nationwide institutional framework for agricultural credit is the principal non-quantifiable benefit. The project faces no major risks although the project's successful implementation hinges on timely measures to be taken by the Government to establish an adequate organization for project implementation, to end the present insecurity of land tenure by completing the agrarian reform, and to control the domestic rate.

World Bank Group

Project

Manufacturing (Industrial), Raw Materials, Government