Zimbabwe's state-owned Grain Marketing Board will distribute $10 million to farmers before the planting season begins to settle outstanding grain delivery debts. The payment follows a $5 million disbursement made two weeks earlier, and the combined funds cover 80 percent of summer delivery obligations in U.S. currency, according to GMB Chief Executive Officer Edson Badarai at the Zanu PF Annual National People's Conference on Tuesday in Mutare.
The financial support arrives just as farmers are preparing their fields and purchasing supplies for the new growing season. Badarai thanked producers for their patience, and he emphasized that timely payments strengthen the nation's strategic grain stockpile.
The GMB purchases crops from Pfumvudza program participants under contract, and it serves as the buyer of last resort for other producers. Lands Minister Anxious Masuka secured the funding through negotiations with the Treasury.
The Bankers Association of Zimbabwe committed ZIG53 million and $66.65 million for seasonal financing, and the Agricultural and Rural Development Advisory Services reported that summer crop preparations are progressing well.
The financial support arrives just as farmers are preparing their fields and purchasing supplies for the new growing season. Badarai thanked producers for their patience, and he emphasized that timely payments strengthen the nation's strategic grain stockpile.
The GMB purchases crops from Pfumvudza program participants under contract, and it serves as the buyer of last resort for other producers. Lands Minister Anxious Masuka secured the funding through negotiations with the Treasury.
The Bankers Association of Zimbabwe committed ZIG53 million and $66.65 million for seasonal financing, and the Agricultural and Rural Development Advisory Services reported that summer crop preparations are progressing well.
