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Xayaboury partners with farmers to promote agricultural development

Xayaboury provincial authorities recently issued an agreement notice for a sustainable agriculture development fund to gather the necessary financial resources to drive growth in farming production.
The agreement No. 559, issued on June 1, will increase sustainable financial sources for the province’s farmer groups, production groups, associations, and enterprises working in agricultural development.
The agriculture development fund is mustering financial resources from the public sector to augment private investment and the efforts of the province’s farmer groups to ramp up sustainable agricultural production.
The funds are generated through the import-export of crops by farmer groups, production groups, associations and enterprises.
Funds are also raised via factories purchasing crops, interest from loans and bank deposits, contributions from the public, farmer groups, production groups, associations and enterprises, state organisations and non-government organisations as well as domestic and international development projects.
The current funding will focus on developing viable income sources, put in place appropriate administrative procedures and policies for participants as well as an inspection system to ensure that the initiative meets its targets.
The funds will be channelled into training for farmer groups, production groups, associations and enterprises and imparting technical inputs for enhancing agricultural production.
The remaining funding will be spent on allocating loans to groups working in agriculture development, for emergencies and for administrative purposes.
Xayaboury authorities reported recently the province was prioritising crop production and animal husbandry for commercial purposes as a means to generate better incomes for local people. Presently, commercial agricultural output is continuing to expand, particularly the production of sweetcorn, Job’s tear and cassava.
Farmers in Xayaboury export 70 percent of their produce to China,
Thailand and Vietnam while the rest is supplied to the domestic market.
Officials said Xayaboury also benefitted from the long border it shares with Thailand, and the province is renowned for its agricultural exports being one of the main drivers of economic growth and poverty reduction.

By Times Reporters
(Latest Update July 7, 2020)

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