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Ethiopian Commodity Exchange proposes loans for small farmers
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Ethiopian Commodity Exchange proposes loans for small farmers
Ethiopian Commodity Exchange proposes loans for small farmers
By Muluken Yewondwossen
Capital
A proposal of a scheme that entitles the Ethiopian Commodity Exchange (ECX) to facilitate inventory financed loans to small level farmers and suppliers has been devised.
Warehouse receipts will be used for loan guarantees in the proposal that is to be tabled to the board of directors. The idea is for the scheme to encourage those engaged in the grain exchange and other stakeholders who couldn’t access loans from financial institutions.
Eleni Zaude Gabre-Madhin (PhD), Chief Executive Officer (CEO) of ECX told Capital the loans will be for small level parties in the system that are unable to present collateral, or do not have access to acquire a loan from financial institutions.
“The board will discus how ECX will be able to work with the lower stakeholders at the grassroots level. Discussions will also be held on the strategy to increase the quality and quantity of grain and pulse production to boost the exchange market system,” said Dr. Eleni.
7 comments
keep up the good work
. . .this is good news and i hope our small farmers will benefit this opportunity. . .
we need this. . .
Amen,
You are now on the right track. These small farmers are the producers of food and exportable commodities. It has been too long they were neglected. I have repeatedly called for this to happen. The poor farmer can now buy fertilizer and good seed which means more production. I wish you good luck and this is good.
and what they are doing in this tough economy is simply a good thing for the ppl and the economy itself. Study the English Language then you will identify between what was said and whether it was affirmative or negative. You simply acted like a dog with a rabies.
One thing I noticed though is that I never knew Ethiopia had a Nobel Prize Winner. That was not my point anyway. In my posting above, I encouraged the steps taken.
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