Agri-Transformation Program For Agro-Industry in budget 2022-2023

Agri-Transformation Program

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.

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