Latest Africanss News/November 9, 2018/Diane Uwimana/175 views Burundi National Bank to boost productive sectorsshare on:FacebookTwitter Google +Pinterest Tumblr Linked InEmailSend to Email Address:Your NameYour Email AddressEmail check failed, please try againCancelBurundi Central Bank has organized, on November 8, a debate session with managing directors of commercial banks and microfinance institutions to assess the current macroeconomic situation. They have agreed upon improving the productive investments which have almost been neglected. Jean Ciza: “Productive investments have almost been neglected.” Jean Ciza, Governor of Burundi National Bank says there are sectors that are not financed whereas they are the ones that can boost economic growth. He says in the previous years (1980-1984), the primary sectors such as agriculture and livestock and the secondary sector such as industries and other processing sectors, were the sectors that boosted the country’s economic growth. “Following the easing of restrictions made in 1984 with structural adjustment policies, these sectors were abandoned,” he says. ALSO READ David Oyedepo Says He Will Never Belong To Any Political PartyBRB Governor says the government that strongly supported these growth sectors has given up its commitment following the recommendations from donors such as the World Bank and the International Monetary Fund. “Productive investments have been almost neglected,” he says.Mr. Ciza says commercial banks direct more of their financing to the tertiary sector. “They have forgotten productive sectors,” he says. According to him, commercial banks with short term resources could not transform them into long and medium term employment. He also says some sectors such as agriculture and livestock are subject to climate changes and bankers cannot finance them “because they are very risky”.Mr. Ciza says the central Bank, takes the lead in its role to ensure the price stability to see how to circumvent the problems related to these funds. ALSO READ Doyin Okupe Says That President Buhari Has Already Lost In 2019BRB has decided to make available all instruments that can help banks and microfinance institutions so that they should finance those sectors that have been neglected.He, however, says even operators working in this sector are afraid to take financial risks because the interest rate is very high. The National bank expects to boost the economic growth through financing productive investments and growth-enhancing sectors via commercial banks and microfinance institutions. “We plan to set up a refinancing system that allows banks and microfinance institutions to refinance economic operators at an incentive rate and a very low rate from the central bank,” he says adding that BRB will work with commercial banks to identify the projects that can receive funding in the next few days. ALSO READ The Man In Aso Villa Not Buhari - Ex APC Secretary | Orsu 24 News - Nigerian News Today, Biafran News, Nigerian NewspaperBRB will also finance the banks and microfinance institutions oriented in this sector if they can come into contact with external partners and make contract arrangements in foreign currency that the National Bank must guarantee. According to BRB Governor, the interest rate in commercial banks is estimated at 16% while it is estimated at 24% in microfinance institutions Leave A Comment Below Related share on: FacebookTwitter Google +Pinterest Tumblr Linked InEmailSend to Email Address:Your NameYour Email AddressEmail check failed, please try againCancel previous articleU.S. Move Ignores Sudan’s Abuses Against its Own Peoplenext article2019: Senator Ben Murray-Bruce Releases Alleged Rigging Maching Of APCRelated PostsLatest Africanss News/February 23, 2019 /No Comment Kenya: Embassy Denies Claims of Visa Snub to AkotheeLatest Africanss News/February 23, 2019 /No Comment Media house managers living abroad called to abide by lawSouth Sudan’s Kiir receive Malong’s former senior aideKenya: Embassy Denies Claims of Visa Snub to AkotheeBoth democracy and authoritarianism are on the rise in AfricaRuto-Raila Wajir duel, Nyeri fish project sinks, DP cooked own goose: Your Breakfast BriefingElections yet to commence in 23 Lagos Island East polling units – The Nation NigeriaShilole – Ukinitekenya Ft. AslayAfrica: Debutant Young Menas Dream BigRapper,T.I mourns on Instagram after losing his older sister following a car accident