Agriculture can transform Ja’s economy, says CDB president

Caribbean Development Bank (CDB) President Dr Warren Smith believes agriculture can potentially transform Jamaica’s economy into one that engenders growth and prosperity.

The sector is one of two deemed pivotal to the Government’s economic growth and job creation agenda, which has benefitted from significant CDB funding support. The other is the micro, small and medium-sized enterprise (MSME) sector.

Dr Smith told JIS News that the CDB’s input in agriculture has been undertaken through the provision of US$8.1 million in 2012 to fund the first-phase implementation of the Government’s National Irrigation Development Plan.

He explained that the undertaking entailed development of the irrigation systems in the farming communities of Hounslow and Pedro Plains in St Elizabeth, and Sevens River in St James.

The inputs included the establishment of wells and installation of pumps and pipelines, among other equipment and infrastructure.

A total of 391 farmers, comprising 313 men and 78 women, are now benefitting from the provisions at Hounslow, where 360 hectares of land are under cultivation.

An additional 656 farmers are benefitting in Pedro Plains, where another 360 hectares are being cultivated by that group, comprising 461 men and 195 women.

Thirty-two acres are being cultivated in Sevens River by the 76 beneficiary farmers, consisting of 61 men and 15 women.

In noting that these are “key agricultural areas”, Dr Smith said the CDB has also financed the provision of technical support for the farmers to better enable them to achieve maximum yields from their crops.

He pointed out that the overall objective of the CDB’s input is to improve the productivity and competitiveness of a wide range of agricultural commodities.

“We feel that agriculture can lead to the transformation of Jamaica, economically and socially, and we expect it to be a big part of the growth strategy of the country,” the CDB president said.

Meanwhile, he advised that the CDB was in discussion with the Government about the proposed development of another irrigation system in Essex Valley, St Elizabeth, where approximately 700 hectares of lands are being cultivated by farmers.

He hinted that this project could be financed from the £300-million Infrastructure Fund that was committed to by the British Government, saying that this should be verified following a meeting of the CDB’s board to discuss the matter shortly.

In the meantime, Dr Smith endorsed the Government’s agro-park initiative, which he described as an “excellent idea” that should be further “deepened and broadened”.

“We need to ensure that a full suite of infrastructural support is in place, including good roads, irrigation, access to fertilisers, storage, agro-industrial links…and all of the other inputs required,” he said.

In relation to the MSME sector, Dr Smith, told JIS that a US$15-million line of credit was approved in 2014 for disbursement to that group through the Development Bank of Jamaica, which serves as the funding institution’s intermediary.

This, he said, will benefit 15 stakeholders whose operations meet the stipulated criteria.

“They have to be export-oriented, predisposed to saving foreign exchange, and demonstrate a commitment to improving energy efficiency, among other requirements,” he said.

Source: http://www.jamaicaobserver.com/news/Agriculture-can-transform-Ja-s-economy–says-CDB-president_61702