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Home News Farmers To Repay PDM Loans After Two Years — Museveni

Farmers To Repay PDM Loans After Two Years — Museveni

by Jacquiline Nakandi
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By Edna Piyic

President Yoweri Museveni has said that farmers that will use the Parish Development Model (PDM) loans will be allowed to pay in two years.

He revealed this while rallying the people of Westnile on the second day of his tour to the sub-region.

Museveni mentioned that the farmers will be allowed to pay after 24 months.

He added that the crops may not be ready for harvest in a year; “for instance, coffee may take 18 months, there is no harm if a farmer starts paying back in 24 months.

West Nile was previously a tobacco growing area and is now known for growing cassava, simsim, maize and other food and cash crops like coffee and cotton.

He also added that they can pay in instalments,” the modalities of the program ensure that the Parish SACCO acts like a bank”.

“Every financial year we will be giving the bank sh100m and the bank will be growing and in the second year, the person who borrowed first will be paying back the money.”

He also cautioned those that will borrow the money for unprofitable farming enterprises like vegetables.

“Our money is not for burials or brewing local beer, but for crops that are profitable”, he said.

He added the PDM is targeting crops that have a market on the national, regional and international scene.

Museveni asked the city dwellers to also form village groups in order to borrow the loans and process the agricultural products from the farmers.

The PDM national coordinator, Denis Galabuzi, explained that the program starts from the village groups to the parishes.

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