People in rural areas in some developing countries earn their living through farming and agriculture. Oftentimes these farmers experience difficulty in obtaining financing for their farming needs. This can greatly impact their production. In reality this is a troubling situation to many farmers in this countries. Many organizations have been established to provide special financing services to these farmers that are adaptive to their needs. This will allow them to improve their living conditions and at the same time help it will increase their self-sufficiency for food production. Access to financial services is still a great problem to some areas in developing countries.
Financial Services and products which are offered to farmers:
- Deposit services
These loans and deposits can finance the purchase of the following:
- Fertilizers and seeds
- Equipment needed to modernize production
- Warehouse credit
- Micro processing and commercialization