In Afghanistan, 255 million AFS agricultural loans have been approved. The meeting of the Supreme Council of Agricultural Development Fund (ADF) was chaired by Dr. Anwarul Haq Ahady, minister of agriculture and chairman of the supreme council of Agricultural Development Fund.
Dr. Aimal Arman, with ADF directors, briefed the members of Council on the specified objectives, achievements, and recent progress of the Fund in granting loans to agricultural businesses, collecting hard-to-reach loans, the number of benefited farmers, and other matters.
At this meeting, the technical team of ADF submitted two loan applications to High Council and provided information to the council members about the activities of the loan applicants. Approved loan offers relate to two companies active in the field of agriculture. One of these companies is a food industry company that will use the money to purchase wheat from local farmers and meet its needs. The second borrower is a carton manufacturing company that is going to use the money to purchase carton printing machines and boost the quality of its products.
ADF is a government financial institution operating under the leadership of MAIL that provides lending services to farmers and agricultural entrepreneurs through financial intermediation and direct lending for the growth and improvement of Afghanistan's agriculture is one of the main functions of this fund. The fund has approved 13.4 billion AFS and has so far lent 1.7 billion afghanis to agricultural businesses, agricultural cooperatives, and associations, financial intermediaries, livestock farms, fish farming, poultry, processors, and exporters of fresh fruits and nuts.
More than 56000 farmers have benefited directly from these services in 32 provinces.