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ItemThe Agricultural Finance Year Book 2019(Economic Policy Research Centre, 2019-06-30) Economic Policy Research Centre, EPRCThe 2019 Agricultural Finance Yearbook, which is the ninth edition in the series and coincides with the 10th anniversary of Agricultural Credit Facility (ACF), offers an in-depth analysis of the trends in the sector performance, with particular emphasis on interventions to promote agro-industrialisation. Chapter One of the book examines the trends in agriculture lending by both government and private financial institutions, the performance and implementation of the Bank of Uganda managed Agriculture Credit Facility over the last ten years; progress and lessons from the Agriculture Insurance Scheme; the rationale for an agriculture finance policy and the implication of the Tier-4 regulatory framework for agriculture finance. A key lesson drawn is that implementation challenges notwithstanding, the uptake of agriculture credit facilities offered by government and partners has steadily increased. This is reflected in portfolio of loans disbursed under ACF amounting to UGX 331 Billion, extended to 525 projects across the country, as at March 2019, as well as provision of complementary financial products by private institutions. Chapter Two of the book critically analyses the innovations that have impacted on the sector with a view to accelerating financial inclusion, such as the introduction and operationalisation of digital payments across the agriculture value chain, easing access to agriculture loans through agent banking, developments in collateral financing through the Warehouse Receipts System. In addition, the book chronicles unique innovations like Centenary Bank’s CenteSupa Woman club as well as interventions to encourage Agricultural Small Medium Enterprise (SME) lending. In the third chapter, evidence is provided using case studies, to examine the financing of agricultural value chains. This includes the role of Public-Private Producer Partnerships in the case of oil palm; financing the country’s integration in the global value chain referring to the case of cotton and textile industry, modalities employed by the development partners and private actors in financing the coffee value chain as well as looking at the development partners perspectives in the case of maize value chain financing in Uganda. Chapter Four assesses the opportunities for equity investments in the agriculture sector, use of credit guarantees to finance agriculture, capacities and institutional governance of Savings and Credit Cooperatives Associations Organisation—all aimed at boosting investments in agriculture sector. I appreciate EPRC’s role of fostering sustainable growth and development of the Ugandan economy by advancing the role of research in policy processes. The Ministry of Finance, Planning and Economic Development shall continue to ensure that financing of agriculture is a priority. I highly recommend this insightful book to all stakeholders working in, or with an interest in, the agricultural sector in Uganda.
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ItemFostering a sustainable agro-industrialisation agenda in Uganda(Economic Policy Research Centre, 2018-12-30) Economic Policy Research Centre, EPRCUganda’s long-term goal, as outlined in the Vision 2040, is to industrialize and transform the structure of the economy. Given the dominance of agriculture as a source of livelihood, there is no doubt that Agro-industrialization (AGI) offers a great opportunity for the country to embark on its aspiration of transitioning into a modern industrial economy. In pursuit of this goal, the Ministry of Finance, Planning and Economic Development (MFPED) under the auspices of the Strategic Economic Policy and Management (STEPMAN) Forum set out in 2017 to provide evidence-based practical policy solutions to address the slowdown in performance of the Ugandan economy. The Forum accordingly tasked the Economic Policy Research Centre (EPRC) to take lead in conducting an in-depth policy oriented research to guide Uganda’s AGI agenda for the next five years. The product of that initiative is this report titled ‘Fostering a Sustainable Agro-Industrialization Agenda in Uganda’. This development prompted EPRC to devote most of its 2017/2018 research work plan to AGI activities culminating into production of policy notes on Transformative approach to Uganda’s export strategy and Agro-Industrialization for Inclusive Growth and Development’ which are a precursor to the final report. The actionable policy recommendations in the AGI Report also translated into Key Result Areas to guide Programme-Based Budgeting for Public Investment Management in Agro-Industry (PIMA) in FY 2019/2020 and the medium term. I am happy to report that MoFPED through the PIMA Taskforce commenced period engagements in August 2018 with relevant Ministries, Departments and Agencies (MDAs) and private sector players, to act on some of the ground-breaking recommendations in the AGI draft report, including a shift from a piecemeal to a program approach for the AGI agenda. An AGI Steering Committee chaired by the Permanent Secretary/ Secretary to Treasury has also been formed to provide effective coordination of the Program. I am therefore pleased to present to you this report which identifies the immense benefits of the agriculture sector linked to industry, including adoption of better production technologies, expanding the export and domestic revenue bases of the country and creating necessary preconditions for Uganda’s structural transformation into a high value- added manufacturing economy. I acknowledge the invaluable contribution from all stakeholders including EPRC researchers and the report drafting team, various organizations that shared their data, and the editorial team. I pledge on behalf of the ministry, that government will continue to implement the report recommendations while continuing the engagement with the various stakeholders.