World Bank, AFD to pump US$230m into Angola’s agriculture sector

ANGOLA – The World Bank in collaboration with the French Development Agency, AFD (Agence Française de Développement) will avail an overall US$230 million in November, for the financing of projects to boost local production and foster Angola’s commercial agriculture. The project to be conducted by the Ministry of Agriculture and Forest will have an initial six-year implementation in the provinces of Malanje, Cuanza Norte and Cuanza Sul according to the project’s coordinator, Pedro Dozi. The World Bank will make available US$130 million, while AFD is to release US$100 million to…

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India to boost food processing sector through US$417m value addition program

INDIA – India has partnered with the World Bank in a US$417million (INR$30 billion) collaborative program that seeks to revolutionize the country’s food manufacturing sector. According to an Economic Times report, the programme will receive INR15 billion (US$209 million) from the World Bank, INR10bn (US$139mn) from the central government and INR5 billion (US$69.5million) from the state governments. The program, dubbed ‘India Food Processing and Value Addition Program’ (IFPVAP), will focus on five major food categories including and packaged foods. IFPVAP will also focus on dairy products, fruits and vegetables, grains…

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World Bank and Ghana join forces to combat carbon emissions in cocoa producing regions

GHANA – The World Bank and Ghana have agreed to work together in a five-year programme that seeks to reduce carbon emission and promote climate-smart cocoa production. The five-year Emission Reductions Payment Agreement (ERPA) under the World Bank’s Forest Carbon Partnership Facility brings together Ghana’s Cocoa Board (COCOBOD), the Forestry Commission and private investors. The program, which was announced in July, will reward Ghana with up to US$50 million for carbon reductions of at least 10m tons, funded through the World Bank’s Carbon Fund of the Forest Carbon Partnership Facility…

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NIRSAL to raise US$391m to support Nigeria’s agriculture financing in six states

NIGERIA – The Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL) is set to raise over US$391.03 million (N140 billion) to finance agriculture in six states across the country over the next three years. An Independent report reveals that US$200 million (N75 billion) will be raised by NIRSAL in partnership with the World Bank’s Agro-Processing, Productivity Enhancement and Livelihood Improvement Support (APPEALS) project. The funding will enable the development, financing, and support of de-risked and optimized agribusiness projects. According to a statement issued by NIRSAL, the funding will leverage on…

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World Bank, India commit to support food security efforts in Kenya

KENYA – The World Bank and India have promised to help Kenya adopt new agricultural technology to boost food production and cut reliance on imports. Ashok Dalwal, chief executive officer in the Ministry of Agriculture in India, said that the technology will has helped India to boost its food security status adding that this can be replicated in Kenya, reports Business Daily. Speaking during a South-to-South workshop organised by India and the World Bank, he highlighted water harvesting technology, soil testing and use of micro-irrigation as some of the technologies…

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Tanzania launches 12-year plan to boost rice supply in East Africa

TANZANIA – The government of Tanzania in partnership with the World Bank, Japan International Co-operation Agency (JICA) and the Africa Development Bank (AfDB) has launched a 12-year plan that seeks to boost rice production. Dubbed as ‘The National Rice Development Strategy Programme’ the initiative is part of the Coalition for African Rice Development aimed at feeding East Africa and forestall a food crisis in the region. Mathew Mtingumwe, Permanent Secretary in the Ministry of Agriculture said the programme is aimed at raising annual rice production from 2.2 million tonnes to…

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Malawi secures US$83.76m from World Bank Loan to commercialize agric sector

MALAWI – The government of Malawi has secured a US$83.76 million (K61bn) credit facility from the World Bank as it seeks to commercialize the country’s agriculture sector through the Agricultural Commercialization (AGCOM) Project. According to a Nyasa Times report, Alexa Namaona from the ministry of agriculture said that  AGCOM is a five years initiated in 2018 and “aims at increasing commercialization of agriculture value chain products including crops, livestock and fisheries for domestic and export market.” The project is being implemented by the ministry of agriculture in conjunction with Ministry…

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World Bank pumps US$7.93m in establishing abattoirs to boost livestock sector in Kenya

KENYA – The World Bank will inject US$7.93 million (Sh800 million) in establishing abattoirs across major pastoralism areas in Kenya in a bid to promote the local and export market for livestock products. Harry Kimutai, Livestock Principal Secretary in Kenya said that the funds will enable setting up well-equipped abattoirs that will enable the regions’ livestock products to compete both locally and internationally. According to a report by Business Daily the slaughter-houses will be constructed in Garissa, Wajir, Isiolo and Mandera Counties and will play a key role under the…

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World Bank launches agri-tech platform to boost agriculture sector in Kenya

KENYA – The World Bank has launched a digital agriculture technologies innovation platform in Kenya that seeks to boost agriculture sector by providing solutions around productivity, market access, financial inclusion and information to farmers. The platform dubbed as ‘disruptive digital technology’ it aims at funding agri-tech innovations to step up technologies that will scale up food production of one million farmers in the next three years. Under the platform, the World Bank Group has partnered the Korea-World Bank Partnership Facility; UN SDG Partnership Platform and the Ministries of Agriculture; and…

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World Bank pumps US$95m to transform Malawi’s agricultural sector

MALAWI – Malawi’sagricultural sector is set to receive US$95 million from the World Bank through a six-year Agricultural Commercialization (AGCOM) Project that seeks to transform the sector into a high productive commercial division. Malawi News Agency reports that AGCOM National Project Coordinator, Dr. Ted Nankhumwa said the project aims at commercialising the subsistence orientation among small and medium scale farmers. Nankhumwa added the project has put in place measures ensure increased productivity and promote diversification of strategic crops. “AGCOM is also likely to create a well cushioned and resilient agriculture…

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