Tag: World Bank

World Bank accelerates digital transformation, smart agriculture in Cameroon with US$100m financing

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CAMEROON – The World Bank has approved a US$100 million credit from the International Development Association (IDA) to support Cameroon’s efforts in promoting digital inclusion and the use of digital solutions in the agriculture sector. The project, Acceleration of the Digital Transformation of Cameroon, seeks specifically support the improvement of the strategic, policy, and regulatory environment for the emergence of a vibrant, safe, and inclusive digital economy. Also, it aims to reduce the geographic and societal digital divides affecting primarily rural areas; and facilitate the implementation of data-driven solutions to…

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Liberia’s fisheries sector receives US$40m support from World Bank to boost growth

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LIBERIA – The World Bank has approved new financing to improve Liberia’s fisheries sector management and enhance the livelihoods of targeted beneficiaries and increase Government revenues. The Liberia Sustainable Management of Fisheries Project (LSMFP), funded by World Bank’s International Development Association (IDA) in the amount of US$40 million, comprising of US$20 million grant and US$20 million credit. The financing is aimed to improve conditions for fishermen and women, increase value addition for export, and help address economic vulnerability of the Liberian economy to climate change and vulnerability of food security.…

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World Bank, ATI, other private financiers support Angola’s BITA Water Supply Project

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ANGOLA – The government of Angola has secured a guaranteed financing package from World Bank for implementation of the BITA project, aimed to develop water supply infrastructure to supply urban and peri-urban belts of Luanda to ease the current supply problems and meet the increasing demand. The World Bank’s partially guaranteed facility, is a syndicated loan among 5 Lenders i.e., Standard Chartered Bank, BNP Paribas, Crédit Agricole Corporate and Investment Bank. With the project, valued at US$1.09 billion, the lenders provided up to USD910 million to the Republic of Angola,…

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Zambia, World Bank boost cashew nut production with launch of US$32.8m project

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ZAMBIA – Zambia has partnered with the World Bank to undertake a US$32.8m cashew nut plantation initiative in the Easter Province of the South African country. The Zambia Integrated Forest Landscape Project (ZIFLP) aims to provide support to rural farmers, as well as to allow them to better manage the resources of their landscapes. The project’s focus is to reduce deforestation and unsustainable agricultural expansion, and enhances the benefits received from forestry and agriculture, in the quest to combat climate change. Once fully operational, ZIFLP will transform the economic statuses…

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World Bank issues US$375m financing to revitalize pastoralism in the Sahel region

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AFRICA – The Board of World Bank’s Executive Directors have approved the new US$375 million IDA financing, to support the implementation of the second Regional Sahel Pastoralism Support Project, known by its French acronym PRAPS-2 (Projet regional d’appui au pastoralisme au Sahel-Phase 2). The project is aimed to improve the productivity and resilience of pastoral production systems in the Sahel region including in Burkina Faso, Chad, Mali, Mauritania, Niger and Senegal. Building on the successes of its predecessor (PRAPS-1), PRAPS-2 will pursue investments to establish more robust animal health systems,…

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World Bank issues US$60m to strengthen resilience of agricultural sector in Africa

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AFRICA – The World Bank has granted CGIAR US$60 million to help advance agricultural research efforts for the benefit of rural households that rely on agriculture as a major livelihood source, and to increase food security. CGIAR is a global partnership that unites international organizations engaged in research about food security. The grant issued through World Bank’s International Development Association (IDA) is aimed to help African countries strengthen the resilience of their agricultural sectors to the threat posed by climate change. “Knowledge generation and technology transfer are deserving of IDA…

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IFAD injects US$62m in Lesotho to boost food security through SADP II

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LESOTHO – The United Nations International Fund for Agricultural Development (IFAD) has announced US$62m in funding to boost food security and nutrition, mitigate the impact of climate change and strengthen livelihoods for 160,000 poor rural households in Lesotho. According to IFAD, the funding will provide the means for a six-year extension of the successful Smallholder Agriculture Development Project (SADP I). The agreement for the SADP II was signed by Gilbert F. Houngbo, the president of IFAD, and Thabo Sophonea, minister of finance. The total project financing comprises of US$50 million…

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World Bank injects additional US$80m into Ethiopia’s Agricultural Growth Project II

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ETHIOPIA – Ethiopia has received US$80 million grant from World Bank’s fund, International Development Association (IDA) to bolster agricultural productivity and enhance market access for smallholder farmers. IDA provides grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. According to the World Bank the funding will be injected into the second Agricultural Growth Project (AGPII) which was approved in 2015 and expected to close in 2022, aimed to further increase the economic potential of Ethiopia’s agricultural sector. “AGPII…

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Kenya to modernize coffee pulping factories with US$52.5m financing from World Bank

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KENYA – Kenya is seeking Ksh.5.7 billion (US$52.5m) financing from the World Bank for the rehabilitation of about 800 coffee pulping factories. This is in addition to the Ksh 1.5 billion (US$13.9m) coffee revitalization project launched by the government in partnership with the World Bank targeting eight counties to increase coffee production. The programme covers Kiambu, Murang’a, Nyeri, Kirinyaga, Machakos, Embu, Tharaka Nithi and Meru Counties. According to the Agriculture Cabinet Secretary Peter Munya, the new financing sourced is expected to be available in the next three months. The funding…

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Liberian government contracts farmers to produce rice, cassava with US$5.5m funding from World Bank

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LIBERIA – The Ministry of Agriculture (MOA)of Liberia has awarded contracts to 10 small holders’ farmers and food processors to undertake rice and cassava production in a bid to mitigate the impact of COVID-19 on the agriculture sector and boost food security. The project is spear-headed under the Smallholder Agriculture Transformation Agribusinesses Revitalization Project (STAR-P) with funding US$10.5m from the World Bank According to reports by Front Page Africa, of the amount US$5 million was given to the World Food Program (WFP) for food distribution, while the remaining fund was…

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