Press briefing of Cabinet Decision taken on 2018-01-16

Smallholder Agribusiness Partnership (SAP) Programme

- The 'Smallholder Agribusiness Partnership Programme' is implemented under the financial assistance of the International Fund for Agricultural Development (IFAD) with a view to enhancing their competitive abilities while assisting in broadening the livelihood avenues of rural small scale agri producers. This project which is implemented Island wide giving priority to low income generating districts provides benefits to around 57,500 low income rural families.

A major component of this project is the provision of the necessary financial facilities for the young agri-entrepreneurs for the development of their farms and to strengthen their enterprises at commercial level. Accordingly, the proposal made by H.E. the President Maithripala Sirisena, to provide credit facilities with an annual interest rate of 6.5% for the producer groups, farmer groups, and the young agri-entrepreneurs, under this programme, was approved by the Cabinet.