Calling all vanilla farmers

Saturday December 06, 2014 Written by Published in Economy

The Cook Islands Vanilla industry is set to receive a boost with a new scheme and allocation of funding to assist the industry.

Business Trade and Investment Board Chief Executive Officer Terry Rangi said the The Board of the BTIB have recently approved a portion of funds to go towards small soft loans to support the vanilla industry.

They are currently asking for expressions of interest.

The Vanilla Industry Loan Scheme (VANILS) is aimed at individuals who have started their own vanilla farm and have had some experience in harvesting, curing, drying or adding value to this new crop and new industry 

Recipients of the loan can buy equipment, tools, stock, freight, packaging and marketing costs.

Loans of up to $10,000 will be made available at 5 per cent interest payable over three years.

Only the best proposals will be considered and only those that meet the criteria, he said.

Deadline for interest  is 4pm Friday December 12 2014. 

There will not be any further news until applications are vetted and submitted to the Board,  hopefully at the  Board Meeting on  Thursday December 18 2014.

Leave a comment