Farmers in the country are to sing a new song as government plans to establish the Agricultural Corporative Bank in the next six months.
According to minister of information Malison Ndau, government has found a consultant who is going to conduct research on the viability of the project.
He was however positive that the bank will benefit farmers.
“The coming of this bank will help the framers to access loans, sell and export their products easily,” he said.
Ndau added that this will also boost the country’s economy and improve business standards in Malawi.
Asked how much money government is to pump into the project, the minister did not come clear saying all will be known after the feasibility study but mentioned African Development Bank as the ones who are to provide the money for the project.
In an interview, a poultry farmer who did not want to be named said this is a good development since it will change lives of many farmers who are in business.
“I believe that farmers who are into farming business like me will benefit from this Bank since it will provide loans to farmers to boost their businesses,” she said.