A sugarcane farmer. [File Photo]

Sugarcane farmers in the Northern Division are urged to make use of a loan package that will help boost their income.

The Sugar Cane Growers Fund, together with Business Link Pacific (BLP) is issuing the loans under the specialized Small and Medium Enterprises (SME) initiative.

Sugar Cane Growers Council CEO Raj Sharma says the loan assistance will enable farmers to have start-up money available so they can diversify into supplementary farming.

The loan package is available to farmers who want to venture into ginger farming, turmeric farming, bee farming, prawn farming, and duruka farming.

“These are the things that our Board in consultation with Business Link Pacific has approved for all sugarcane farmers in Fiji. Before it was only limited o ginger for only Western Division, now it’s for everyone across.”

Sharma adds they are talking to several buyers and identifying markets for these products.

“The farmers will be able to get a loan even to a small amount of $5,000 to a maximum of $15,000. The interest on this loan is six percent but you will be charged only five percent. One percent has been subsidized by Business Link Pacific. Also, this loan has a component of a 16 percent grant.”

Sharma says there has been some interest from farmers in the Northern Division, but no applications have been received yet.

The Business Link Pacific loans programme is implemented by DT Global in its capacity as Managing Contractor of the Pacific SME Finance Facility Pilot Programme.

DT Global partnered with the Sugar Cane Growers Fund to deliver funding of $625,000 on behalf of the Ministry of Foreign Affairs and Trade (MFAT).