SOCIAL SECTOR INVESTMENT PROGRAMME
36
SUSTAINING GROWTH, SECURING PROSPERITY
CHAPTER 3: NATIONAL SOCIAL SITUATION
The MFP has also collaborated with the Food
and Agriculture Organisation (FAO) to develop
a Draft Agriculture Sector Policy 2013-2018. A
consultant was selected to guide the drafting
of a National Food and Nutrition Security Policy
for Trinidad and Tobago as part of a regional
initiative.
1. A
GRICULTURAL
P
RODUCTION
,
D
ISTRIBUTION
AND
ACCESS
The sustainability of the sector demands a
strategic approach that in part combines
incentives, institutional development and
marketing mechanisms. Specific actions
undertaken to transform the sector include:
A. Agricultural Incentive Programme
The Agricultural Incentive Programme (AIP),
which was revised in 2011, is designed to provide
support to the various agricultural sub-sectors
based on the requirements identified and the
recommendations of the stakeholders, with
the intention of boosting the overall efficiency
and productivity of the agricultural sector. It
provides an opportunity for the adoption of new
technologies and mechanisation that would
enhance the business competitiveness. The
AIP provides a variety of incentives that can
assist individuals and businesses in recouping
expenses related to the following:
• Vehicles;
• Machinery
and
equipment
(includes
beekeeping);
• Water (wells, dams, ponds);
• Soil conservation;
• Land preparation;
• Citrus fields;
• Cocoa and coffee fields;
• Coconut fields;
• Livestock (beef, diary, goat and sheep);
• Guaranteed prices;
A Technical Working Committee was also
established to examine andmonitor some of the
challenges in the implementation of the AIP.
B. Access to Credit
In an effort to stimulate investment in the
agricultural sector, theAgricultural Development
Bank (ADB) introduced a number of new
strategies, including the reduction in lending
rates from8-11% to 3-5%, reduction in loan fees,
and a reduction in management fees from 2%
to 0.5%. Other new financial products were also
introduced such as the ADB Secure Loan, which
provides support to the agri-business sector
against crime and praedial larceny; the Islamic
Financing Window for funding in line with the
Global Islamic Banking System; the Reaping
Opportunities Loan (ROL), providing financing
to the economically challenged farmer; and the
School Nutrition Caterers Loan, designed to
meet the demands for development financing
by caterers contracted with the National School
Dietary Services Ltd. The ADB also introduced
its Mobile Banking Units aimed at delivering
financial services directly to farmers and
fishermen.
C. Marketing Programme
Through the National Agricultural Marketing
and Development Corporation (NAMDEVCO)
operators in the agricultural sector can benefit
from capacity building and market information
for timely decision making. The programmes
and services enhance the competitiveness and
value of the sector by identifying, developing and
promoting domestic and international market
opportunities.
To this end the Corporation offers a range of
services to foster this development, as follows:
• Identifying local and export market
opportunities;
• Developing Value added Products;
• Market Intelligence/Market Reports;
• Quality Assurance;
• Markets and Packinghouse;
• Promotion and Exhibitions – Local and
International.
