As part of the Covid-19 Emergency Stimulus Plan Government approved funding totaling three Million dollars to the GCNA; comprising one Million dollars as a grantย for price support to the farmers and two Million dollars in the form of a concessionalย loan to assist the Association with working capital.
The $1.0 million grant will allow the Association to continue to buy from the farmersย even while they cannot sell due to a falloff in demand and supply chain disruptionsย as a result of the pandemic. The funds are to be used for direct assistance to farmersย and not for any other purpose. In this context, the Grant Agreement provides for an
audit of the grant to ensure that the funds are used for the intended purpose.
The terms and conditions for the loan component have not yet been finalized and theย expectation is that this would be completed by the end of this financial year.
Present at the signing ceremony were representatives from the Ministries of Financeย and Agriculture and the GCNA management and Board of Directors.
