Bank of Saint Lucia plays a critical role in the development of agriculture providing much needed financial and technical assistance to the farmers who produce for domestic and overseas markets.
The Development Banking Unit works closely with the Ministry of Agriculture in support of policies for the development of the agriculture sector has been instrumental in the promotion of the ‘diversification drive’ aimed at opening new markets for local farmers.
Bank of Saint Lucia also assists farmers with cultivation of other crops to help the island advance efforts at agricultural diversification generating much needed income and employment for thousands of Saint Lucians.
In order to better understand the needs of the farming community the Bank also works with qualified agricultural officers – who not only assist with the appraisal of projects but offer farming advice to customers.
The Development Banking Unit provides credit services for a wide range of agricultural enterprises and fishing enterprises. These include:
- Cultivation of crops including herbs for export and/or domestic consumption and production of livestock.
- Purchase of farm machinery and equipment (tractors, farm vehicles, pumps, spraying machines, milking machines, generators).
- Rental or lease purchase and/or manufacture of agricultural chemicals (fertilizers, herbicides, pesticides, medical drugs, livestock feed).
- Construction, renovation or repair of farm buildings (storage houses, greenhouses, copra kilns, cattle sheds, pig and poultry pens).
- Soil conservation measures (terracing, contour drainage, afforestation).
- Irrigation and drainage of farmlands.
- Construction and repair of on-farm roads.
- Apiculture (Bee-keeping)
- Horticulture (Flowers and plant farming)
- Provision of facilities for storage, packaging and marketing of agricultural produce.
- Purchase of land as part of an agricultural enterprise (the development component must be at least 50% of the overall project to be considered).
- Packaging and canning of fish and fish products.
- Purchase of boats, marine engines and equipment for fishing.
- Repair of boats, marine engines and equipment.
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