THE Government, in an effort to give farmers better financial sourcing opportunities for agricultural purposes, has announced the extension of lease periods from 20 years to 50 years.
Manager of the Administrative Division, Guyana Lands and Surveys Commission Mr. Enrique Monize made this disclosure during the launch of the land demarcation project in Region Two on Wednesday last.
The Government Information Agency said Monize indicated that the extension will enable farmers to better access agricultural finances from commercial lending institutions since they are known to quickly consider applicants whose lease tenure are lengthy.
He pointed out that leases can also be used as collateral once the area is completely developed.