Sugar Cane Replanting Program (SCRP)
The SCRP is financed by the government of Belize and the European Union with the aim of increasing productivity and sustainability of the sugar cane industry.
- The first contact is with the technical personnel of SIRDI (Sugar Industry Research & Development Institution) who conduct a field inspection and offer technical recommendations based on the needs of the parcel to be replanted.
- Following SIRDI’s recommendation a simplified loan analysis is conducted together with the applicant along with a field verification.
- Once the loan is approved the first disbursement is made.
- The process of supervised credit requires a minimum of at least two field inspections so as to ensure that the best results are obtained of at least 30 tons of sugar cane per acre.
- Be a registered cane farmer
- Be between the ages of 18 to 70 years
- Be a member or become a member of LICU
- Assign the sugar cane proceeds or obtain the approval of a deduction per ton from BSI
- Have at least 10% of the amount borrowed in shares
The loans are for a period of 5 years which include one year grace period whereby only the outstanding interest is charged. Thereafter both principal and interest are charged for a maximum time period of 4 years.
- The loan amount is $1,522.50 per acre for replanting.
- Up to $10,000 loan with only sugar cane proceed assignment to LICU
- Loans above $10,000 require additional security
- Payments are made through deductions per ton to a maximum of $15 per ton per cane season (first and second payment)
How is it beneficial to the Cane Farmer?
- The repayment flexibility allows the farmer to pay without financial pressure
- The program is designed to offer technical assistance to the cane farmer for improved field practices
- The program is designed for the cane farmer to reap higher yields
- Improve the overall standard of living of the cane farmer and his/her family