The Nyakrom Rural Bank has increased its loan facility to cocoa farmers to assist in the expansion of farms and improve the wellbeing of beneficiaries in the catchment area.
Mr Kaedabi Donkor, the Chief Executive Officer (CEO) of Nyakrom Rural Bank, made this known when he addressed the Chiefs, Queen mothers, family members, heads of clan and cocoa farmers at the Nyakrom Traditional Council meeting at Agona Nyakrom in the Central region.
He said the Management of the bank decided to grant loans to cocoa farmers in the pre-cocoa season, so they could hire labourers, purchase farm inputs such as fertilizers and other agrochemicals for spraying, to increase crops yield.
Mr Donkor indicated that the farmers were required to pay back the loans at the end of the cocoa season, after which they could become eligible for another facility prior to the beginning of the fresh season.
He indicated that cocoa farms were serious economic ventures that required huge capital investments to increase yields, hence the bank’s decision to offer farmers loans.
The CEO, however, did not disclose the quantum of the amount the bank had so far pumped into the cocoa farmers package, but hinted that the beneficiaries were highly appreciative of the financial support.
Mr Donkor, therefore, appealed to all cocoa farmers in the catchment area, to go to the bank to partake in the programme to receive more financial support for the expansion of their farms and enhance their living standards.
The bank, he said, had extended its tentacles to further rollout a scholarship scheme for children of its shareholders to pursue higher education in universities, and other colleges of education.
The CEO disclosed that the bank had in 2023 paid the full cost of school fees for 10 beneficiaries to pursue various programmes in universities and nursing training colleges, among others.
It had also assisted in the completion of a library at Odoben Senior High School, while a budget had been approved to help complete a six-unit classroom block at Sidiqq Senior High School.
In addition, a six-seater toilet and urinal had been constructed at the Nyakrom health centre for patients and health workers, Mr Donkor said.
Aside these, the Nyakrom rural bank had also extended assistance to the Nsaba health centre, to improve facilities at its OPD, laboratory and maternity ward to enhance quality health care delivery to residents in its catchment area.
The CEO called on investors in the banking industry to invest in the bank to reap huge benefits on their investments and help it to fulfil its corporate social responsibilities.
