Agriculture Minister supports Bank of Namibia’s drought relief policy

The Bank of Namibia has introduced a financial relief policy for farmers affected by ongoing drought, which includes loan restructuring, debt moratoriums, and emergency funding at preferential terms. Agriculture Minister Calle Schlettwein expressed support for the policy in an interview with Future Media, emphasising the need for financial products tailored to the agricultural sector’s unique challenges.

Minister Schlettwein, discussing Namibia’s response to climate change, further highlighted the importance of sustainable measures to improve resilience, such as improved tax policies, support for re-stocking livestock, and infrastructure investments to mitigate drought impacts. He also noted that the country’s tax system currently burdens farmers during drought-related livestock sales and advocated for reforms to foster resilience in agriculture. Additionally, Schlettwein recommended that Namibia consider subsidies for farmers, aligning with international standards, as they currently compete against heavily subsidized global markets.

For the full interview, visit Future Media News on Iono. https://iono.fm/e/1496864