Local farmers can now benefit from up to $1 billion in loan from the AGRIBIZ Loan and Scholarship Programme.

The programme was launched Tuesday morning by the Agriculture and Fisheries Ministry in partnership with the Development Bank of Jamaica, DBJ.

Under the programme, farmers can become eligible to benefit from a maximum $30 million in loans to sustain their businesses.

Students of the College of Agriculture, Science and Education, CASE, can also benefit from scholarship grants of up to $500,000. The scholarships are only for two second year students studying Agri-business or Agri-education.

The loan will cover the three remaining years of their tenure at the college.

Agriculture Minister Pearnel Charles Jr. says the programme is a step forward in boosting food security.

The programme will place special focus on female farmers, as well as host workshops for farmers in the coming weeks.

The minister says the programme is directly aligned with the ministry’s Grow Smart, Eat Smart Programme and will focus on digital transformation in the industry.

Pearnel Charles Jr. Minister of Agriculture and Fisheries.