New AFSC Board Appointed

 
  From the May 1, 2017 Issue of Agri-News
Subscribe to our free E-Newsletter, "Agri-News" (formerly RTW This Week)Agri-News
This Week
     Agri-News HomeAgri-News Home
 
 
 
 A new board of directors will provide oversight and accountability at the Agriculture Financial Services Corporation (AFSC).

The eight-member board was selected through an open recruitment process and includes individuals with a wealth of experience in agriculture, agribusiness, rural entrepreneurship and board governance.

“AFSC is an important partner in supporting economic growth and job creation in the agriculture sector and in our rural communities. The new board will provide essential oversight to help ensure that AFSC’s programs and services are delivered effectively and continue to meet the needs of rural Alberta.”
Oneil Carlier, Minister of Agriculture and Forestry

“For more than 75 years, AFSC has offered financial tools that help producers manage risks, like hail and drought, and has provided capital funding for entrepreneurs who want to start new ventures or expand their businesses. As a board, our priority is to make sure AFSC management continues to keep pace with the evolving needs of agribusiness and conducts its operations in a transparent and accountable manner that reflects the expectations of Albertans.”
Jennifer Wood, chair of AFSC board of directors

As a provincial Crown corporation, AFSC provides loans, crop insurance and farm-income disaster assistance programs to farmers, agribusinesses and other small businesses.

Quick facts

  • AFSC has provided more than $3 billion in loans to producers, businesses and other rural-based entrepreneurs over the last seven years.
  • Demand for loans is approximately $500 million annually.
  • In 2016, AFSC insured 78 per cent of total seeded annual acres (15 million acres), providing $4.5 billion in coverage.
AFSC’s previous board of directors was dismissed in June 2016 after an examination by Alberta’s Chief Internal Auditor raised concerns about oversight of senior executive expenses and procurement practices.

For almost a year an interim board appointed by the Minister led the organization in providing important services to Albertans. The newly appointed board of directors assumes its responsibilities immediately.

Read the full new release

Media Inquiries:
Renato Gandia
Press Secretary, Agriculture and Forestry
780-638-9466
 
 
 
 
view Agri-News RSS FeedAgri-News RSS Feed      Share via AddThis.com

For more information about the content of this document, contact Ken Blackley.
This information published to the web on April 20, 2017.
Last Reviewed/Revised on April 27, 2017.