BUDGET: CS Yattani proposes Sh 2.7bn to cushion farmers in 2022/23 fiscal year

NAIROBI, Kenya, April 7- Treasury Cabinet Secretary Ukur Yattani has proposed an allocation of Sh2.7bn in 2022.23  to cushion farmers while sustaining food production.

He said the government already allocated Sh3bn to subsidize fertilizer prices during the planting season through subsidized fertilizer prices.

A week ago, the Ministry of Agriculture, Livestock, Fisheries, and Cooperatives Friday issued Sh5.7 billion fertilizer subsidy which will help cut the cost of a bag by half from Sh6,000 to Sh2,800

Yattani said the additional funds will support large scale production of staple food, expanded  irrigation schemes, and support smallholder farmers to support food security

“To safeguard food security in the country, the Government has allocated Ksh 3.0 billion to subsidize farmers during the current planting season. We propose to further allocate Ksh 2.7 billion in the FY 2022/23 to cushion the farmers while sustaining food production,” he said.

Further, he said the Government has allocated Sh 6.1 billion to a 10-year financing program aimed at mobilizing climate finances to support local communities.

He said the funds will help local communities across the country build resilience and adapt to the impacts of climate change.

The CS also proposed an allocation of Sh 10.2 billion to support the conservation of forests and water towers.