South Africa Sets up 1 Billion Rand Fund to Assist Black Farmers
- Fund aims to help small-scale farmers boost agriculture output
- Government expects private lenders to co-fund projects
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South Africa created a 1 billion-rand ($68 million) fund to help small-scale Black farmers enter commercial agricultural production.
The Department of Agriculture will finance the project that will be run by the Industrial Development Corp., a state-owned bank that plans to provide loans to farmers. The fund will have an initial duration of 10 years.