Got Questions?
Frequently Asked Questions
What is ECODEV?
As the name implies, it is Economic Development Program. The ECODEV Farmers Intervention Program is a groundbreaking initiative aimed at empowering farmers and boosting agricultural productivity through collaborative efforts. This program provides vital financial resources and support to farmers engaged in large-scale agriculture. By leveraging clusters and cooperatives, ECODEV aims to transform the agricultural landscape, enhancing food production and ensuring sustainable growth.
Who are the Organizers?
It is Hosted by Touching Lives Skills International Development Foundation (TLSID) and facilitated by Shalom Agro Limited.
How much can I get?
The program offers no-collateral, low-interest loans ranging from ₦1,000,000 to ₦20,000,000. This financial support enables farmers to start, expand, and optimize their agricultural projects.
How can I access the Facility?
ECODEV promotes a cluster system, where groups of at least 100 farmers collaborate. This collective approach ensures shared resources, knowledge, and support, fostering a robust agricultural community.
What are the eligibility criteria?
To participate in the ECODEV Farmers Intervention Program, clusters must meet the following criteria:
Cluster Size: Each cluster must comprise a minimum of 100 farmers.
Registration: All members must register with TLSID.
Bank Account: Members must open a current account with the facilitating bank and commit a minimum deposit of ₦3,000.
Economics of Production: Clusters must submit an economics of production report outlining their agricultural activities and financial needs.
Service Providers and Off-Takers: Clusters must have established service providers and off-takers to ensure efficient production and distribution.
What are the Loan disbursement details?
Loan Tenure: The loan tenure shall not exceed 4 months.
Loan Amount: Clusters can receive loans based on their production needs, ranging from ₦1,000,000 to ₦20,000,000.
Evaluation Process: Loan evaluation begins immediately after application submission, conducted by the evaluation committee.
Who is a facilitator?
Facilitator: An expert engaged to guide, train, and support the cluster. Each cluster is supported by a facilitator—an expert in the relevant field. Facilitators provide essential guidance, training, and direction to ensure the success of the cluster’s agricultural activities.
Can I create my own cluster to participate in the program?
Yes you can. The cluster is an integral security for the loan. Cluster Administration:
Facilitator: An expert engaged to guide, train, and support the cluster.
Cluster Head: Responsible for the day-to-day operations and leadership of the cluster.
Secretary and Treasurer: Executives managing administrative and financial tasks as defined by the cluster.