‘Increased Investment in Sahel Will Boost Devt of Rural Farmers’

‘Increased Investment in Sahel Will Boost Devt of Rural Farmers’

About one million rural people in the Sahel region will benefit from a new joint programme that was recently announced by the International Fund for Agricultural Development (IFAD).

According to a statement, the $180.4 million Regional Joint Programme would revitalise economic activities and food systems in the Group of Five Sahel countries and in the Republic of Senegal.

The project is known as the Regional Joint Programme Sahel in Response to the Challenges of COVID-19, Conflict and Climate Change (SD3C) – G5 Sahel + 1 (Burkina Faso, Chad, Mali, Mauritania, and Niger) and the Republic of Senegal.

The financing agreements were signed in Ndjamena during the Ministerial Summit of G5 Sahel by Lassané Kaboré, Minister of Economy, Finance and Development of Burkina Faso; Issa Doubragne, Minister of Economy and Development Planning of Chad; Alousséni Sanou, Minister of Economy and Finance of Mali; Mamadou Diop, Minister of Finance of Niger; Maman Sidikou, Executive Secretary of G5 Sahel and Nadine Gbossa, Regional Director for West and Central Africa Division of IFAD. Others were Ousmane Mamoudou Kane, Minister of Economic Affairs and the Promotion of Productive Sectors of Mauritania and Nadine Gbossa of IFAD also signed a letter of intent. Amadou Hott, Minister of Economy, Planning and Cooperation of Senegal signed the financing agreement with IFAD.

“Over a six-year implementation period, the programme will include IFAD-financed activities implemented in two phases of three years each, with an estimated total cost in phase 1 of $55.7 million and in phase 2 of $53.3 million.
“In addition to the US$ 43.3 million approved by the IFAD Executive Board last December, IFAD will finance $65.6 million through future financing cycles or from development partners. The Green Climate Fund is contributing $71.4 million to the Regional Joint Programme,” it added.

Related Articles