HARARE, Apr.2 (NewsDayLive) -Government has handed over 72 tractors and two combine harvesters valued at US$3,7 million to the Youth Bank for onward lending to young farmers to boost agricultural productivity.
The machinery was sourced from Belarus.
Speaking at the handover ceremony in the capital on Wednesday, Agriculture minister Anxious Masuka said the initiative is part of efforts to modernize the agricultural sector and enhance food security.
“Today, we celebrate the realization of a vision of empowered and self-sufficient youth ready to transform not only the agricultural sector but also the future of our nation,” he said.
“The agricultural sector needs young minds to tackle challenges such as food production, climate change, and sustainability,” he added
Masuka expressed gratitude to the partners who contributed to the initiative, acknowledging their commitment to supporting agricultural development.
“The Youth Bank played a crucial role in facilitating the project, demonstrating the potential of targeted investments in youth empowerment” Masuka said
Under the scheme, farmers would be expected to pay 50% of the value of the machinery at a concessionary interest rate.
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