MASERU __ The Prime Minister (PM), Mr. Ntsokoane Matekane says, promotion of food security is vital in tackling poverty and hunger.

The PM said this at the State House on Monday, where Ministries of Finance and Development Planning and that of Agriculture and Food Security together with Lesotho Post Bank (LPB) signed extension of LPB Credit Guarantee Facility (CGF).

In his address, Mr. Matekane said it is his fervent hope that through this signing, farmers will be inspired to engage in agriculture to promote food security.

He said Covid-19 has taught the world in particular Lesotho to strongly reconsider the importance of agricultural produce for the development of Basotho livelihoods as well as for selling to other countries of the world.

He appealed to those who would be getting the funds to ensure that the money is used wisely and returned to the bank in a period of five years.

Over and above that, he called the youth to also consider this opportunity to tackle unemployment rate while also grow their businesses in this area.

The CGF Memorandum of understanding (MOU) for tractors, other farm machinery, equipment and related accessories were signed to the value of M200 million. 

This initiative comes after the PM made a call to all farmers, ensure that they engage in agricultural production in line with NSDP ll review extension.

This MoU was last signed in the 2021/2022 Fiscal Year budget.