Agricultural Credit Guarantee Scheme Fund

Agricultural Credit Guarantee Scheme Fund

The Agricultural Credit Guarantee Scheme Fund (ACGSF) provides insurance guarantee cover (up to 75% of any outstanding balance upon default) in respect of loans granted to the agricultural sector by banks and also has a farmer-friendly scheme called "Interest Drawback Program" (IDP) of up to 40% interest refund upon liquidation of the facility.

The target beneficiaries of the fund are individual farmers, cooperatives societies, and corporate bodies, while the general requirements are among others, that the beneficiary must be a farmer with verifiable investment in the enterprise of interest; must have ability to bear the cost of agricultural insurance cover by NAIC, must have a current account for the servicing of loan interest, etc.

NOTE: Umuchinemere Pro-credit Micro Finance Bank won the 2016 edition of the best bank award of CBN among banks participating in the scheme in the southeast zone. Umuchinemere Pro-credit Micro Finance Bank (UPMFB) gives agricultural loans under the CBN Agricultural Credit Guarantee Scheme Fund (ACGSF). The ACGSF entitles the loan beneficiary to interest draw back (IDB) on completion of the repayment of the loan at a very competitive rate and also to insurance cover for your farm (poultry, piggery, fishery, crop farms) throughout the duration/tenure of the loan.

So, come now to any of our branches at No.5, CIDJAP Street, Uwani Enugu (Tel. 08150646133 & 08058695113); Abakpa Nike (Tel. 08070993597); Agbani Town (Tel. 08150646134); Amokwe, Udi LGA (Tel. 08150646136); Gariki Awkunawnaw (08070993596); Godfrey Okoye University (08070993594); and 9th Mile Corner (08150646135), take advantage of the offer of ACGSF and enjoy the rewarding and encouraging benefits to enhance your living. For enquiries, call any of the telephone numbers in your local area provided above, or the Head Public/Media Relations Unit, Sir Abuchi Anueyiagu (08033205799).

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