IFAD gives $ 33.7 m for agri program

Monday, 3 July 2017 00:00 - - {{hitsCtrl.values.hits}}

The International Fund for Agricultural Development (IFAD) and the Government signed a financial agreement for the implementation of the Smallholder Agribusiness Partnership (SAP) Program last week.

Finance Ministry Secretary Dr. R.H.S. Samarathunga and IFAD President Gilbert F. Houngbo signing the agreement in Rome

This was designed to support the Public Private People Partnership (4Ps) focusing on smallholder farmers developing the agribusiness value chain - which encompasses agricultural production, processing, distribution and marketing which will help smallholder farmers increase their incomes, improve employment opportunities and household nutrition in rural areas.

The program will provide a platform for 57,500 poor rural households to increase their income and food security by expanding livelihood and business opportunities. This will also facilitate women and young people to access financing and business training, enabling them to form partnerships with each other and with the private sector.

The total investment over the six-year implementation period is estimated at $ 105 million (Rs. 17 billion), including IFAD financing of $ 33.7 million with the contribution of financial institutions, the private sector, beneficiaries and the Government.