LIVESTOCK II

closed

Funds will be made available for ranch development (land clearance, pasture renovation, fencing, water supplies, yards and dips, machinery, improved breeding stock, and other related inputs). It is estimated that 50 to 60 beef cattle ranchers will participate in the Second Interim Livestock Development Project. Investment on each ranch will be phased over a period of up to three years. Loans from the participating credit institutions exceeding the equivalent of $100,000 in the aggregate will be submitted to the association for prior approval. The terms to the participating credit institutions and the participating ranchers will remain the same as under the first project. Interest and repayments not required for servicing the IDA credit or the commission of the Central Bank will be rechannelled through the participating credit institutions to be relent to ranchers under the project during the 18-year term of the subsidiary loan agreements. At the end of this period, the funds will accrue to the Government.