AGRICULTURAL BANK III

closed

Project components include: (a) financing of about 600 tractors, with the larger tractors intended mainly for cooperatives of small farmers, and a considerable number of small farm equipment and implements; (b) pumping equipment for and drilling of 20 deep wells for farmer groups and about 480 pumps for shallow wells for individual farmers; (c) establishment or improvement of orchards, vineyards, poultry, crop cultivation and other farming activities. Most loans would be between $1,000 and $1,400 equivalent for small and medium size holdings; (d) financing the investment and working capital needs of some 4,000 new settlers in selected Government settlement areas; (e) more than one-third of the total project cost would be directed towards short-term loans for financing fertilizers, improved seeds and other inputs, thereby benefitting a large number of small holders; (f) short-term loans to finance produce marketing by cooperatives to enhance members' bargaining power, and to processing firms or cooperatives for purchase of produce from small farmers at equitable prices; and (g) staff field allowances, foreign fellowships, vehicles and mobile shops for the Agricultural Machines and Service Company (AMSCO).