Farmers in Yendi municipality granted loans

Friends of Youth Vision foundation based in Yendi has granted loans totalling GH¢5,000 to 100 farmers of various groups from Yendi, Gnani, Malizeri, Sambu, Kulikpenduli and Sang in the Yendi Municipality of Northern Region.

The Executive Director of Friends of Youth Vision Foundation, Mr. Amin Musah, announced this during the opening ceremony of the Sang Branch of the Foundation at Sang.

Mr. Amin indicated that the Foundation began operations in 2009 in Yendi, Gnani, Malizeri, Sambu, Kulikpenduli.

He stated that Friends of Youth Vision Foundation is supported by Rural Banks to grant loans to farming groups and business persons to expand their farms in order to improve on their livelihood.

He warned them that if a group member fails to pay back the loan, the whole group membership will be responsible to pay back the loan.

He reminded them not to use such loans for wedding and funerals as some do and find it difficult to pay back their loans.

Mr Amin said apart from giving out loans, the Foundation had tractors which ploughed for the farmer groups so that after harvest, they pay back with an agreed portion of the crops cultivated.

He called on Assembly members to lobby NGOs and financial institutions in their Metropolitan, Municipal and District Assemblies to assist their farmers and business persons to obtain micro credit to promote their farming and business. He urged them to use their resources for their children’s education.

Source: GNA