Agricultural loan increased to MVR 2 million: Pres. Solih

The administration has increased the amount of the agricultural loan offered to farmers to MVR two Million, says President Ibrahim Mohamed Solih.

President Solih made this remark while speaking at the official ceremony held in Kaashidhoo Island in Kaafu Atoll to commemorate National Farmer's Day and World Food Day 2022, on Sunday.

In his remarks, the President noted that the change was brought to address the concerns and grievances of farmers.

The President in his speech noted that the biggest obstacles to agricultural development are space constraints and the lack of financing available for farmers.

He went on to highlight that the amendments to the Decentralization Act had empowered local councils, giving them jurisdiction over allocating land plots from their respective islands and called on local councils to facilitate long-term agricultural investments in the islands by allotting land to farmers.

Moreover, the President in his remarks, noted the role of the Ministry of Economic Development in the agriculture in Maldives and stated that the administration would continue to encourage private agrarian investments.

Speaking about the initiatives to ensure food security in the Maldives, the President said that efforts were underway to produce agricultural varieties that are easily grown locally. He said that 17 agricultural varieties have been identified so far and that the Agro National Corporation (AgroNat) will oversee the purchasing process and ensure that the produce reaches the markets. The President noted that import duties on produce that is easily grown in the Maldives should be raised.

In his speech, the President underscored the possibility that unhealthy food consumption contributes to the prevalence of non-communicable diseases in society, and he stated that both developed and developing countries aim to transit to organic farming. He elaborated on the importance of transitioning to organic farming, stating that local farmers must consider the benefits of organic farming, even if it cannot be accomplished overnight. He then discussed the impact on Sri Lankan farmers as a result of the sudden shift to organic farming.

Speaking at the official ceremony the President stated that despite its long farming history, Kaashidhoo Island had never had the opportunity to celebrate such an occasion on a national scale. He also discussed the difficulties and concerns of the island's farmers.

The ceremony also saw President Solih presenting commemorative plaques to the nine recipients who had provided outstanding services to the agricultural field.

Following the event, President Solih attended a special banquet hosted to mark National Farmer's Day and World Food Day.