NIRSAL/Polaris Bank 1bn Loan To Empower Poultry Farming
Friday 1 December 2023
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In a significant move for the poultry farming sector, NIRSAL Plc and Polaris Bank have provided a substantial N1 billion loan to Globetrot Farmsponsor Limited, an integrated poultry farm. With NIRSAL offering a 50% credit guarantee, this financial boost aims to enhance operations across the farm's hatchery, breeder, broiler, feed mill, and processing components.
The collaboration is expected to bring about improved deals for farmers and consumers in the region, offering enhanced access to poultry inputs, day-old chicks, organic manure, and other essentials within the poultry value chain.
The partnership between NIRSAL Plc, Polaris Bank, and Globetrot Farmsponsor Ltd. is a result of NIRSAL's efforts to engage various financial institutions and government entities in the agriculture/agribusiness space. CONTINUE READING.....
Top executives from NIRSAL and Polaris Bank recently visited Globetrot's integrated farm, expressing satisfaction with the professionalism and passion demonstrated by the farm's team. Managing Director of NIRSAL Plc, Mr. Abbas Masanawa, commended Polaris Bank's foresight in financing Globetrot under NIRSAL's de-risked financing model, highlighting the bank's commitment to maximizing economic opportunities in Nigeria's agricultural landscape.
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In response, Mr. Charles Adigwe, representing the Managing Director of Globetrot Farmsponsor, expressed gratitude to NIRSAL and Polaris Bank for the loan. The Branch Manager of Polaris Bank, Garrison Branch, Mr. Ejike Aroh, celebrated the collaboration, emphasizing the bank's commitment to agribusiness financing for profitability and empowering rural Nigerians. CONTINUE READING....
This partnership signifies a collective effort to drive agricultural development and economic growth in Nigeria.
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