Water Development Loan
These are loans intended for water infrastructure for irrigation and livestock use. This product is borne out of the realization that irrigated-based farming is still very limited in the country, yet this is the surest way to militate against the vagaries of weather such as the frequent droughts that leads to crop and animal loss. A farmer who ventures into horticulture, for instance, would need a permanent water supply to assure of sustained production. The arable land that is currently underutilized can be put to agricultural use through availing water and associated irrigation facilities.
- Availability of suitable and adequate water catchment
- Provision of water permits by the necessary water authorities
- Water test certificate for quality and quantity in case of bore hole
- Water tanks and troughs, Shallow wells, Boreholes.
- Pumps, Pipes and connections
- Irrigation equipment, Farm dams
- Labor, Transportation related to installations
- Suitability of the of the crop
- Tangible security for the loan
- Minimum acreage financed is 5 acres for maize and wheat only