Demand for Land Bank drought-relief loans surging
Author: Anine Kilian
Demand for State-owned land and agricultural financial services provider Land Bank’s recently announced drought relief concessional loans is surging as South Africa’s record-breaking drought conditions continue to cause widespread devastation to agricultural crops and livestock.
The bank stated on Tuesday that it had received applications for loans amounting to just under R200-million to date. “While these applications have not been approved yet, the demand gives a glimpse into the bleak future [of the local agricultural sector],” said Land Bank executive manager for commercial development Sydney Soundy on Wednesday.
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