twitter RSS Feed linkedin acp contact

Sierra Leone and IFAD to boost food security in rural areas

International Fund for Agricultural Development (IFAD) and the Republic of Sierra Leone have signed a financing agreement to develop a US$72.6mn Agricultural Value Chain Development Project (AVDP)

sierra lAgriculture is the largest sector of the economy of Sierra Leone. (Image source: UNAMID/Flickr)

About 34,000 vulnerable rural households in Sierra Leone are expected to benefit from the project that aims to improve food and nutrition security and raise the incomes of smallholder farmers by modernising agriculture, increasing production and developing markets.

Project financing includes a US$5.9mn loan and US$5.9mn grant from IFAD.

The project is expected to be co-financed by the private sector (US$1.4mn), the Government of Sierra Leone (US$8.1mn) and the beneficiaries themselves (US$1.4mn).

Additional co-financing (US$9.2mn) is being requested from the Adaptation Fund. Over the next few months, an additional US$40.8mn will be made available under the performance-based allocation system cycle for Sierra Leone, covering the period 2019-2011, thereby reaching the total financing amount of US$72.6mn.

“IFAD's allocation of US$40.8mn to Sierra Leone for 2019-2021 has almost doubled compared to the 2016-2018 allocation of US$21.4mn,” said Lisandro Martin, director of IFAD's West and Central Africa division.

Agriculture accounts for 62 per cent of the labour force, 59 per cent of GDP and 22 per cent of export revenues. Poverty is particularly acute and concentrated in rural areas where 59 per cent of the population lives.

The new project will increase production and improve the marketing of rice, palm oil, cocoa and vegetables, contributing to the Government’s priorities of rice self-sufficiency, crop diversification and rural poverty reduction.

AVDP will invest in agricultural mechanisation, irrigation and water management. It will strengthen and climate-proof rural infrastructure through the rehabilitation of feeder roads and warehouses to improve product drying and storage capacity. It will also build the capacity of smallholder farmers through farmer field schools and provide them with credit for their investments in smallholder farms. At least 40 per cent of the project's participants will be women and youth.


LATEST NEWS IN Agriculture

African Development Fund approves US$6.4mn grant to increase financial access for agricultural value chain entrepreneurs

African Development Fund approves US$6.4…

The Board of Directors of the African Development Fund, the African Development Bank Group’s (AfDB’s) concessional lending window, has approved a grant US$6.4mn to Gambia to implement the Incentive-Based Risk-Sharing...

Esri partners with Microsoft to support sustainable agriculture development in Africa

Esri partners with Microsoft to support …

To help support government and non-profit organisations on the continent address climate change, water supply and food security challenges, Esri, the global leader in location intelligence, has collaborated with Microsoft...

USAID and NASA renew partnership to address development and humanitarian challenges

USAID and NASA renew partnership to addr…

On 4 November, Administrator Samantha Power signed a Memorandum of Understanding (MoU) between the U.S. Agency for International Development (USAID) and the National Aeronautics and Space Administration (NASA) to renew...

Norway promises top-up contribution of urgently needed climate finance

Norway promises top-up contribution of u…

On 9 November 2022, Norway, as part of a commitment to triple its support to climate adaptation by 2026, has pledged an additional US$9.5mn contribution of urgently needed climate finance...

CotonChad and IDH sign partnership with Better Cotton

CotonChad and IDH sign partnership with …

Better Cotton recently signed a multi-stakeholder Letter of Intent to participate in the landscape approach, developed with local stakeholders in Chad in conjunction with IDH, intending to work towards improving...

NFU president Minette Batters appointed as ambassador of Farm Africa

NFU president Minette Batters appointed …

Farm Africa, a charity that promotes sustainable agricultural practices, strengthens markets and protects the environment in rural eastern Africa, has announced the appointment of NFU president Minette Batters as an...

Prev Next

OTHER RELATED ARTICLES - Agriculture

EU’s F2F strategy to produce a more sustainable food system

EU’s F2F strategy to produce a more sust…

Andre Laperrière, executive director of Global Open Data for Agriculture and Nutrition (GODAN), has commented that the EU’s Farm-to-Fork strategy is crucial for a sustainable future

India and Africa to jointly set up agricultural institute in Malawi

India and Africa to jointly set up agric…

Ministry of External Affairs in India has signed an MoU agreement with National Bank for Agriculture and Rural Development Consultancy Service (NABCONS) to set up India-Africa Institute of Agriculture and...

Biobest to acquire Kenyan biopesticide firm

Biobest to acquire Kenyan biopesticide f…

Biobest has announced that it has entered into an agreement to acquire Real IPM Kenya, a leading company in biological control in East Africa

IoT set to overtake cloud computing as primary industry 4.0 tech in agriculture: Inmarsat research

IoT set to overtake cloud computing as p…

A new research by Inmarsat, a global mobile satellite communications company, revealed that investment in the Internet of Things (IoT) is set to overtake cloud computing, next generation security, big...

Designer rice for Mozambique

Designer rice for Mozambique

Mozambicans will soon get locally-grown rice developed especially to meet local consumer preferences

World Bank recommends Brazil's agriculture pattern for Africa

World Bank recommends Brazil's agricultu…

The World Bank is helping African states benefit from a series of easily-adaptable Brazilian agriculture patterns

Ghana Cocoa Board secures US$1.3bn syndicated loan

Ghana Cocoa Board secures US$1.3bn syndi…

The Ghana Cocoa Board (COCOBOD) has concluded a US$1.3bn syndicated loan agreement at a signing ceremony in Paris

Sunflower farming set to rise in Tanzania

Sunflower farming set to rise in Tanzani…

TANZANIA Agricultural Transformation Grant (TATG) has intended its commitment to develop a region-wide strategic plan for improving sunflower farming and addressing challenges facing farmers in the area

FAPA and AFAP to support supply and utilisation of fertiliser by smallholder farmers in Africa

FAPA and AFAP to support supply and util…

On the sidelines of the AfDB’s Annual Meetings in Busan, Korea, the Fund for African Private Sector Assistance (FAPA) donors and the African Fertiliser and Agribusiness Partnership (AFAP) have signed...

CGIAR funding doubles to US$1 billion in five years

CGIAR funding doubles to US$1 billion in…

The Consultative Group for International Agricultural Research (CGIAR) has seen its funding double from US$500mn in 2008 to US$1bn in 2013, the organisation announced

Research: Rothamsted scientists make gene breakthrough in fight against weeds

Research: Rothamsted scientists make gen…

A team of scientists from Rothamsted Research have successfully adapted genetic techniques developed for crop improvement to be used in weeds – allowing them, for the first time, to directly...

Untapped genetic potential means wheat yields only 60 per cent of what they could be, shows study

Untapped genetic potential means wheat y…

European wheat harvests could be increased by more than five tonnes a ha, according to a study by agricultural institute Rothamsted Research

Prev Next