LIRA: Several participants who attended the training organised by Bank of Uganda show their stress factors surrounding the work of the commercial bank as far as agricultural Credit Facility ais concerned and want the moni only to be channeled only via chambers of commerce.
On behalf of the Deputy governor Bank of Uganda who is on a busy schedule ,Alupo Christine ,the director of currency-Bank of Uganda ,who represented him ,told hundreds of participants on Thursday gathered at Margarita Palace Hotel from Lira City that Bank of Uganda regret the untimely death of the departed mayor Lira City West Division,Michael Ogwal Achonga(RIP).
Christine started by conveying the condolence message from Deputy governor Bank of Uganda about the passing on of the beloved City West Division Mayor Achonga.
Under the theme”Understanding the role of Bank of Uganda in achieving the economic transformation”
She said as bank of Uganda, there should be a coordination through partnerships with the community.
Bank of Uganda is in partnship with Lira city to renovate Ayago Health centre III.
They wil sign Mwmorundum Of Understanding and looking forward in implementing this.
Winnie Melissa the director Agricultural Credit Facility told the participants that the commercial bank should make it convenient to the farmers to access the loan.
As a farmer you should be prepared with all the plan of using the money after having borrowed from.
She encouraged farmers’ to have a bank account.
Bank of Uganda role is to manage this fund on behalf of the government by also making the farmers knows about the loan.
She urged the participants to know that financial institutions in have varying requirements.
She say over 800 Bn was disbursed under the Agricultural Credit Facility programs.
Sacco, cooperative stands a high chance of borrowing basing on credit history among other considerations.
Mr Hamming ton Waiswa the director commercial banking department which supervises and regulatea activity of commercial bank ,said they have 24 commercial bank in. the country and urged them(farmers) to choose bank of their own interests.
However there were mixed reactions from some participants about the Agricultural Credit Facility loan.
One,Otim Tom Otuke of Timo of Fresh Front enterprises told the officials from Bank of Uganda not to channel any of the agricultural loan via commercial bank since it will totally not benefit the local farmers because they are always bullying them about 50 million shillings in bank account and always assuring them that they will not get the loan.
He wants commercial banks abandon by government because of their interests and string attached to farmers when giving and allocating agricultural loan.
Ojede Jieglar Bobson told the officials from Bank of Uganda that commercial bank are should not be incharge of giving the loan to the beneficiaries of Agricultural Credit Facility loan because of several loophole noted with the commercial Banks.
Ojede said commercial bank are not ready to help farmers in many parts of the country including Lira city.
Over 900 participants attended the training organised by Bank of Uganda at Margarita Palace Hotel in Lira.