New CBN Guidelines For Anchor Borrowers’ Programme

The Central Bank of Nigeria, CBN, has announced amended rules for the Anchor Borrowers’ Programme, one of its major intervention initiatives.

The apex bank claims says ‘‘The revised guidelines address current realities and developments in the Anchor Borrowers’ Programme, aimed at promoting best practice in the implementation of the Programme.”

“The guidelines recognize the distinctiveness of smallholder farmers, the ABP transactions dynamics and the Project Management Team (PMT) in the implementation process,” the CBN added.

It also takes steps to ensure that smallholder farmers are protected.

‘‘It defines eligibility criteria and responsibilities of relevant stakeholders under the Programme such as the loan limit, interest rate, tenor; agricultural commodities eligible for financing under the Programme. It outlines the implementation windows and operating models under each window type. “This document is therefore aimed at improving the Programme’s implementation process and enhancing stakeholders’ participation for the realization of the ABP’s objective,” the apex bank noted.

Source: Nyscinfo