NBK, Ministry partner to drive irrigation projects financing
Farmers across Kenya are set to benefit under National Bank of Kenya’s Kes5 billion Majikonnect program supporting water, sanitation and hygiene following a partnership with the Ministry of Water, Sanitation, and Irrigation.
Dubbed Farmer-Led Irrigation Development (F.L.I.D) program, farmers practicing irrigation will access affordable financing to invest in irrigation equipment, dam liners, and inputs such as seeds, fertilizers, and pesticides.
They will also benefit from information exchange to boost their enterprises, and produce aggregation, market information, as well as fresh ideas on land use.
NBK Managing Director George Odhiambo said the lender is committed to providing affordable financing and technical support to help farmers access the necessary resources for successful irrigation farming.
He added that through the partnership, NBK aims to enable farmers to achieve effective and successful irrigated agricultural production alongside sustainable safe drinking water access, water harvesting, and storage solutions.
“This partnership aligns with our commitment to support the growth of the water and agricultural sectors which are vital components of our economy. Through affordable financing and technical assistance, we aim to help small-scale farmers access the necessary resources to enhance their irrigated agricultural production.”
“By empowering farmers to improve their production, we can increase food security and contribute to the overall growth of the agriculture and water sectors,” he added.
The ministry will provide policy guidance on the program, identify, target, and register potential farmers, support the development of irrigation infrastructure as well as provide technical advice on efficient irrigation systems and technologies.
NBK will in addition provide banking services for FLID projects, financial solutions for contractors and suppliers of the program as well as provide special financing solutions for special interest groups in the program including the youth, women and persons living with disabilities.
Farmers will also receive technical assistance and training to ensure they have the necessary skills and knowledge to optimize their irrigated agricultural production.
The partnership is expected to have a significant impact on the agricultural sector, by increasing productivity, reducing post-harvest losses, and enhancing food and water security, and overall growth of the Kenyan economy.