Agribank says it paid out N$304 million in new loans during the 2016/17 financial year. It says of that money, N$103 million was spent on farmland purchases, N$44 million on livestock loans and N$29 million on productive infrastructure improvements. Minister of Finance, Calle Schlettwein tabled the bank’s annual report in the National Assembly last week. It shows that resettled farmers received N$7 million in funding. The chief executive officer, Sakaria Nghikembua predicts that the next two to three years will be challenging for Agribank. He says climatic conditions remain volatile and unpredictable and the Government’s fiscal consolidation efforts are likely to continue. Interest on income increased by six percent, from N$157,4 million in 2016 to N$168 million last year. Interest income on investments increased by 18% from N$16 million to N$19 million in 2017.