NCB to extend low interest rate loan offer to farmers

The National Commercial Bank (NCB) has indicated that it will be extending the time frame in which farmers can access a special low introductory loan to grow potatoes, onions and peppers.

NCB earlier this year launched a special 9% farm loan for growing the specified crops which was to expire on April 30.

However NCB Group CEO, Patrick Hylton said conditions in the agricultural sector forced the bank to extend the previous deadline for take up of the loan.   

Farmers now have until the end of September to take up the loan which has been offered as part of a thrust to boost agricultural output in Jamaica.

Despite the concessionary rates on offer, the NCB Managing Director said the response from farmers has not been overwhelming.    

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