The Mauritian government also need to support the transformation of the agro-industry through mechanization, innovation and sustainability.
To finance this Agri-Transformation Program, the Industrial Finance Corporation of Mauritius Ltd (IFCM) will offer:
- A preferential lease of 2.5 percent to Cooperatives for the purchase of mini-tractors.
- Leasing facilities of up to Rs 25 million with an annual interest rate of 3.5 percent
Preferential Lease: A preferential lease is a lease that an owner decides to charge that is less than the legally regulated rent that they could collect.
Leasing Facilities: Any land, building, equipment, or other capital asset leased by or to a district is referred to as leased facilities.
Annual Interest Rate: It means the interest rate set out in the Schedule of Loan Terms.