Rice Distribution Facility (RDF)
Development Finance | Agriculture | Manufacturing | MSMEs | Health | Energy/Infrastructure | Financial Inclusion | National Collateral Registry | Export
The RDF was established in November 2018 for medium to large scale rice distributors, to enable them to purchase locally milled rice from Integrated Rice Millers at a single digit interest rate.
Objectives
The objective of the facility is:
- Provide credit facilities to rice distributors at single digit rate
All applications for loans under the Scheme are made through the Participating Financial Institutions(PFI). See Guidelines for further information.
| Questions | Responses | |
|---|---|---|
| 1 | How do I apply for RDF? | All applications are though deposit money banks |
| 2 | What kind of projects are funded under RDF? | Distribution of locally produced rice |
| 3 | Can individuals and enterprises access CACS? | No. Only limited liability companies can access RDF |
| 4 | Do I need collateral for RDF loan? | Yes. RDF loans require acceptable collateral by the Deposit Money Bank (DMB) |
| 5 | Can a company borrow under MAS for a start up? | Yes. RDF loans are for start-up and existing rice distribution companies |
| 6 | What is the tenor of RDF loans? | 12 months |
| 7 | Can RDF be used for cultivation? | No. Only for distribution of locally produced rice. |
| 8 | Can RDF be used for importation of integrated rice milling machinery?td> | No. |
| 9 | Is there a moratorium under RDF? | No |
| 10 | What is the loan limit for RDF? | N1 billion |
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