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4-Month $3 Million Loan for 70,000 Farmers in the Artibonite Gets Much Pomp

Politics

Maxime

Embattled President Jovenel Moïse continues to distribute loans across different sectors of Haiti in a manner that most observers believe is more for the optics and politics than actual good governance.

On Thursday, a ceremony was held at the National Palace where 282 million HTG ($2.9 million [USD]) was loaned to 49 cooperatives of the Artibonite valley who are made up of more than 70,000 farmers.

This program is not an agriculture initiative consisting of state grants but loans, from the National Credit Bank (BNC). BNC Chairman Raoul Pierre-Louis said the interest should not exceed 6% ($174,000) and the principle should be repayed in four months.

The timing could put the local growers in an even deeper bind than they are in. The harvest season begun in August and will soon be ending. Much of this year's harvest died in the hands of growers who could not transport their produce to market due to the nationwide peyi lok movement.

It's possible the small, microloans might only be used to regain the farmers and cooperatives what they had lost. Very little will be available for investment since repayment will be expected before the Spring season.

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4-Month $3 Million Loan for 70,000 Farmers in the Artibonite Gets Much Pomp