The Government of Belize has secured funding from the European Union through the Caribbean Development Bank to establish a revolving credit fund for sugar cane replanting. Funds amounting to $20..4 Million have been allocated to the program which is to be fully implemented by 2017.
ELIGIBILITY CRITERIA
- Registered active cane farmer
- Replanting of existing fields
- Positive recommendation from SIRDI
- Credit worty cane farmers
LOAN SIZE
The loan size per individual or related group of farmers will not exceed $1,300 per acre for replanting and $300/acre for ratoon maintenance.
INTEREST RATE
Attractive rates payable on Reducing Balance
LOAN TERM
- Sugar Cane Replanting – Maximum repayment period of five (5) years inclusive of one (1) year grace period on Principal payments
- Ratoon Maintenance – One Year repayment period
REPAYMENT
Adequate cane payment Deduction Orders must be enforced for loan payments.