Home ECONOMY Guinea: Study on Affordable Equipment Financing Scheme for Pineapple Producers Launched

Guinea: Study on Affordable Equipment Financing Scheme for Pineapple Producers Launched

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The Delivery Unit under the Office of the Prime Minister of Guinea announced June 22, the launch of a study,  to set up an affordable Equipment Financing Scheme for pineapple producers to procure irrigation kits, working in partnership with financial institutions and equipment vendors.

The study will also look into financing for irrigation schemes for farmers in the pineapple value chain, as according to the unit, “current financial products are not aligned with farmers’ cash flow and income streams, making most equipment financing mechanisms unfit for agriculture lending. To increase access to irrigation equipment, farmers require financial products with flexible repayment terms that match their income.”

The unit targets farmer cooperatives in Maférénya and Kindia regions, with the goal to increase their farm yield (from 30 to +50 tons per hectare), farm level productivity, area of arable land per farmer and time saved from manual farm chores.

The Delivery Unit is working with the Ministry of Agriculture and the Ministry of Industry, to focus on developing the pineapple value chain by focusing on supporting land extension, preparation and irrigation in order to double land dedicated to pineapple production by 2020, from 400 to 800 hectares; improve access to and use of fertilizers to increase productivity by 70% by 2020, from 30t/ha to 50t/ha; increase international exports to reach 2,500 tons/year by 2020.