World Bank and the Exim Bank give Uganda $150m to equip farmers

By Moses Ndhaye

The World Bank and the Exim Bank of Korea have given Uganda a grant of 150 million US dollars to equip farmers with modern agricultural skills and enable them practice commercial Agriculture.

It is estimated that 68% of Farmers in Uganda are practicing subsistence farming, and are unable to increase output which is hurting their profits.

With over 70% of the population engaged in Agriculture, economists say more investment is needed in the sector to stimulate the country’s economic development.

A Senior Agricultural specialist at the World Bank Joseph Oryokot says the project will run for the five years during which farmers will be given skills which include the use of ICT to access market information for their produce.