Rice Distribution Facility
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.
The objective of the facility is:
- Provide credit facilities to rice distributors at a single digit rate.
How to apply
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 through deposit money banks. |
| 2 | What kind of projects are funded under RDF? | Distribution of locally produced rice. |
| 3 | Can individuals and enterprises access RDF? | 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 RDF 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? | No. |
| 9 | Is there a moratorium under RDF? | No. |
| 10 | What is the loan limit for RDF? | N1 billion. |