PSD advocates for lower interest on loans to attract more investments in agriculture
Sunday, June 23, 2024
Jean Chrysostome Ngabitsinze, the party secretary general addresses PSD members during their campaign in the Gacurambwenge sector of Kamonyi district on Sunday, June 23. Emmanuel Dushimamana

The Social Democratic Party (PSD) has pledged to advocate increasing investment in agriculture, livestock, breeding and establishing a special financial institution for agriculture that provides loans with a 10 per cent interest rate.

PSD made the commitment on Sunday, June 23, as they continued their campaign in the Gacurambwenge sector of Kamonyi district, hoping to gather votes for its candidates who are looking to secure seats in the lower chamber of parliament.

The party has also initiated a campaign to rally support for incumbent President Paul Kagame in the July presidential elections.

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According to PSD first vice-president Valens Muhakwa, loans disbursed in the agriculture sector are high; yet, the agricultural sector plays a large part in the country&039;s expanding economy.

"We are lobbying for agricultural workers to receive loans with a single digit interest rate. Because when we invest in agriculture, we don't expect a perfect return, and often we can't even predict the effects of climate change. So, when we are uncertain about the investment return, the government should provide incentives for individuals who engage in agriculture," Muhakwa remarked.

He emphasised that agriculture plays an important role, adding that "The reason we chose some sound poems in the pillar of agriculture is to improve some seeds and embryos for livestock so that those cattle may generate more milk and meat to help our economy grow”.

The secretary general of PSD, Ngabitsinze Jean Chrysostome, stated that "when you use commercial banks, even if you have some loans with 12 percent or 13 per cent, but agriculture in particular, we need to de-risk using an interest rate less than 10 per cent." This is our proposal for the next five years.

"As you know, agriculture is a high-risk sector, and investing in it is getting increasingly challenging, particularly for small and medium-sized businesses. Having a loan with less than 10 percent interest promotes and attracts additional agricultural investment,” Ngabitsinze added.

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Agnes Nyiransanzumuhire, a resident of Kamonyi district said she would support the party because she feels PSD parliamentary candidates would put more effort in agriculture, livestock, breeding, and commerce.

"When a citizen goes to a bank to ask for a loan, it is always difficult for them to repay the loan in terms of interest rate, and now if they cut it to 10 percent, many citizens will know how to enhance their own business and their own life,” Nyiransanzumuhire claimed.

Abel Dushimimana, one of PSD&039;s founding members, has also urged people to vote for PSD, the Social Democratic Party, because they have developed 60 ideas organized into three pillars, and those ideas, which they will advocate for, are in line with what the country wants and where the country is going.

The PSD's three-week campaign trail, which began on June 22, is slated to conclude on July 13 in Nyarugenge District, at Tapis Rouge in Nyamirambo.

On Saturday, June 29, PSD will continue their campaign in Musanze District, Muhoza Sector, on a football pitch called Gihisi.

PSD first vice-president Valens Muhakwa
PSD members during their campaign in the Gacurambwenge sector of Kamonyi district on Sunday, June 23. Emmanuel Dushimamana