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Banks told to target north commercial tree farmers

By Vision Reporter

Added 23rd June 2010 03:00 AM

COMMERCIAL banks operating in northern Uganda have been advised to give loans for large commercial tree farming.

COMMERCIAL banks operating in northern Uganda have been advised to give loans for large commercial tree farming.

By Chris Ocowun

COMMERCIAL banks operating in northern Uganda have been advised to give loans for large commercial tree farming.

Aldo Obedmoth, the National Forestry Authority (NFA) regional manager, disclosed that they were overwhelmed by the demand for seedlings by individuals who want to undertake tree planting as a business.

“Let the banks give loans to their clients to buy seedlings and plant because these trees are good collaterals. People have the land but do not have the money to develop it.

“About 150,000 seedlings are demanded by private individuals for planting, but NFA does not have the money to raise the seedlings,” Obedmoth noted.

He was launching a tree planting drive by the Kenya Commercial Bank (KCB) at Abera Major Central Forest Reserve in Paicho sub-county in Gulu district over the weekend.

Obedmoth pointed out that the trees from the forest reserves were normally bought by people who get loans from the banks.

He said NFA raised 25,000 seedlings, which were given out to the community.

Obedmoth, who said NFA and the KCB have carried out various corporate planting of trees to green the environment, appealed to other banks to join the campaign.

“NFA supports corporate tree planting by commercial banks, because when we are selling our mature trees, those who buy them get money from the banks,” he said.

Conrad Ayebazibwe, the KCB community champion, said after planting 1,300 pine trees at Abera, the bank would plant pines at Paicho sub-county headquarters.

“KCB is giving back to the community what they think will benefit the community,” he noted.

He stated that this was part of KCB efforts to fight global warming.

Ayebazibwe said every year for the next 15 years, KCB will plant trees to protect the environment.

KCB also donated 40 double beds, 80 mattresses and other gifts to the orphans of St. Jude Orphanage Home in Gulu.

Banks told to target north commercial tree farmers

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