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Growers Fund Extends Opening Hours

Growers Fund Extends Opening Hours
Sugar Cane Growers Association acting chief executive officer and Loans Officer Ba Asish Kumar delivers an insurance payment to the wife of a farmer who recently passed away. The wife is said to be bedridden . Photo: Sugar Cane Growers Association
August 11
10:00 2018

Sugar Cane Growers Fund earlier last month announced extending its opening hours and not closing for lunch.

Acting Chief Executive Officer Vimal Dutt said this is aimed to assist farmers who are the main stakeholders of the Fund.

The Sugar Cane Growers Fund was setup to assist cane farmers to access credit and is currently the largest lender in this sector with gross loans totalling $28 million to around 9500 growers.

The maximum interest rate on the loans is six per cent, well below the interest rate charged by commercial banks and licence credit institutions.

There are a number of loan products for cane farmers which include:

  •  Soft Loans
  • Specialised loan
  •  Refinance of cane farm loans with commercial banks
  •  Lease Renewal Cost

More details on the various loans and eligibility can be obtained from the nearest Sugar Cane Growers Fund branch which is located in Lautoka, Nadi, Ba, Tavua, Rakiraki, Labasa and Seaqaqa.

In addition, the Fund took the initiative to pay the larger part of cane grower bundled insurance premium on behalf of cane growers.

Fiji care insurance is the insurance provider.

The bundled insurance has rolled in its second year. During the first year total of 100 cane grower families benefitted from a total sum of $376,000 paid out in claims of which $36,000 paid for fire damage to 12 growers and $340,000 to 88 families for funeral and term life claims.

 

Feedback:  jyotip@fijisun.com.fj

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