President Ibrahim Mohamed Solih has announced that his administration has increased the amount of the agricultural loan offered to farmers to MVR 2 Million to address their concerns and grievances.
He made this remark while speaking at the official ceremony held on Kaashidhoo Island in Kaafu Atoll to commemorate National Farmer's Day and World Food Day 2022 last night.
The President said that the biggest obstacles to agricultural development are space constraints and the lack of financing available for farmers. He highlighted that the amendments to the Decentralisation Act had empowered local councils, giving them jurisdiction over allocating land plots on their respective islands.
The President called on local councils to facilitate long-term agricultural investments in the islands by allotting land to farmers.
President Solih emphasized the Economic Ministry's role in agricultural development and noted the MVR 2 Million loans made available to farmers. He also stated that the administration would continue to encourage private agrarian investments.
Speaking about the initiatives to ensure food security in the Maldives, the President said that efforts were underway to produce crops that are easily grown locally. He said that 17 crops have been identified so far and that the Agro National Corporation (AgroNat) will oversee the purchasing process and ensure that the product reaches the markets.
The President noted that import duties on produce that is easily grown in the Maldives should be raised.
At last night's ceremony, the President presented commemorative plaques to the nine recipients who had provided outstanding services to the agricultural field. Following the event, President Solih attended a special banquet hosted to mark National Farmer's Day and World Food Day.
