Alex Platform Generates More Than $1 Billion in Sales for Farmers

• The Agri-Linkages Exchange (ALEX) platform has generated more than $1Bn in sales for small farmers so far in 2023.
• This was disclosed by Minister of Tourism, Hon. Edmund Bartlett, during a statement to the House of Representatives on Tuesday (December 12). 
• The ALEX platform is a collaborative initiative between the Tourism Enhancement Fund (TEF) and the Rural Agricultural Development Authority (RADA), which has revolutionized the interaction between hoteliers and farmers.
• The Minister noted that RADA and TEF are working to strengthen that and bring more farmers onto the platform. He also mentioned the tourism loan disbursements through the National Export-Import (EXIM) Bank, which have surpassed $1Bn for 2023.
• The Small and Medium Tourism Enterprise (SMTE) loan facility, managed by TEF and facilitated through the EXIM Bank, plays a pivotal role in enhancing the resilience and capacity of SMTEs in the tourism sector.
• This initiative has empowered business operators with access to financing of up to $25Mn at an interest rate of 4.5% for five years.

(Source:  JIS)