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Give interest-free loans to farmers, Minister Kyambadde urges government

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Trade Minister Amelia Kyambadde has urged government to start giving interest free loans to farmers and small scale agro-processing industries, in a bid to promote the Buy Uganda build Uganda (BUBU) campaign, launched by Prime Minister Dr. Ruhakana Rugunda, in March this year.

Addressing the press at the Uganda Media Centre ahead of the 20th session of the Codex Committee on Fresh Fruits and Vegetables slated for October 2-6 at the Imperial Royale Hotel, Minister Kyambadde noted that agro processing industries tend to collapse due to high interest rates imposed on them by lending banks.

Organised by the governments of Uganda and Mexico, the Codex session is aimed at discussing the international standards that favor the produce of Ugandan farmers, ‘despite the reduction of quality fruits produced last season following the long spell of drought’. The session will also provide an opportunity to showcase the fruits and vegetables that Ugandan farmers produce.

Meanwhile, Minister Kyambadde says the BUBU policy is already yielding positive results, with local companies supplying 90 per cent of the cement used in the construction of the Karuma Bridge.

According to the Minister, the Hima Cement factory has also signed an Memorandum of Understanding (MoU) with the Chinese Communication Construction Company (CCCC) to supply 120,000 tons of cement for three major projects in the country.

 

 

 

 

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