Yemen Observer: http://www.yobserver.com
Posted in:
Business & Economy
Written By: Faisal Darem
Article Date: May 10, 2008 - 6:43:01 AM
Encouraging agricultural production and increasing the role of agricultural credits are essential for achieving food security, said Mansour al-Hoshabi, Minster of Agriculture, during the launch session of the 17th round of the Near East North Africa Regional Agricultural Credit Association (NENARACA), opened on Monday in Sana’a.
“The population of rural areas in Yemen exceeds 75 percent, therefore we must focus on development programs of agricultural to reduce poverty and unemployment in the countryside. We have to work on providing a suitable climate for stability for these citizens and improving their standard of living to reduce their migration to main cities,” said the minister. The conference was organized by the Cooperative and Credit Agricultural Bank (CAC Bank) with the participation of more than 45 financial corporations.
The participating corporations will discuss several decisions of the 16th round, achievements of the union, papers on small credits and experiences of banks in funding small enterprises. Al-Hoshabi said that this conference is being held while the world struggles under negative conditions due to a price increase in food prices for many reasons, including the wheat shortage. “We will depend on this conference to open prospects of strengthening the capacities of farmers and investment institutions in agricultural fields for advancing agricultural development and besieging the effects of higher food commodity prices.”
NENARACA Chairman, Bashir Ahmad al-Basir, said the agricultural credits managed to present financial services to improve agricultural sector in rural areas of member countries five years ago.
He noted that some agricultural banks still suffer from problems which impede its progress, yet they manage to perform its mission fully by studying these obstacles.
Al-Basir reviewed achievements of the union in improving performance of the member corporation since its establishment in 1977.
The Secretary-General of NENARACA, Dr. Mohammed Rashrash, delivered a speech in which he reviewed the reasons for marked decline of the agriculture role in economy in most regional countries.
The NENARACA is a voluntary regional association of credit institutions and agencies in the Near East and North Africa Region that deal directly or indirectly with agricultural credit operations and development.