Question and Answer Guide IAS Fund

What is IAS and how does the fund assist Batswana?
As part of the extended support for the economy, the Ministry of Agricultural Development and Food Security (MOA) has, through the implementation of an Integrated Support Programme for Arable Agriculture Development (ISPAAD) introduced the Horticulture Impact Accelerator Subsidy (IAS) fund. The fund assists with the below packages wherein Batswana need to bring 50% contribution.

When will the fund be officially available to Batswana?
Answer: Effective Wednesday the 23rd March 2022

Where does one get application forms?
Answer: Application forms will be collected from Balimisi country wide.

I have already spent X amount of money developing my farm; will this be considered as 50% contribution towards the grant?
Answer: No. contribution in kind is not considered for the 50%.

Do I go to Molimisi with the 50% contribution evidence or only after approval of my request?
Answer: First step is to get technical approval for project and then after approval you are required to go and pay and then return to Molimisi with evidence. Molimisi will bring the completed pack to NDB for release of the 50% grant.

Can I benefit multiple times from the fund? 
Answer: There is an opportunity to benefit multiple times from the fund up to a maximum of BWP150K in a year across the different options.

If I don’t have the 50%; how long will it take for NDB to process my loan application request?
Answer: This depends on the type of loan that you would apply for. If it’s a salary-based loan, then it could take 3 days to a week. If it is a loan through a company then anything from 1 week to 2 weeks. This is from receipt of application from MOA/ Molimisi.

With everything being in order, how long does it take for disbursement of funds from point of firstly engaging NDB?
Answer: 48 Hours from point of receipt of application from MOA

Who does the approval of the grant: NDB or MOA through Molimisi office?
Answer: The approval is from the MOA/Molimisi. NDB facilitates the disbursement/release of the 50% grant.

Is the fund for new or existing horticulture projects?
Answer: The fund is available for new and existing projects 

Does the Ministry Approve when the client does not have 50% contribution?
Answer: No. If client does not have contribution, they may apply for funding from NDB and only after approval of loan and paying 50% will the application be completed.

Does approval by the Ministry mean that I am guaranteed of the 50% Grant?
Answer: No. only if you are able to pay the remaining 50%. 
 
Can companies apply?
Answer: Yes, companies that are majority citizen owned. Over 51% of more citizen owned companies. 

Will I need to provide a business plan for applying for the grant?
Answer: No. The business plan is only required if you are applying for an NDB loan towards your contribution.

Over what period is the fund available?
Answer: The fund will be available if the funds are still available; we will be keeping a close tab on the balances and will communicate when we are close to reaching the funds allocated.