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Home Finance

African Development Fund Allocates $99 Million for Rice Cultivation in West Africa.

by Bantu Gazette
21/11/2024
in Finance
Reading Time: 2 mins read
African Development Fund Allocates $99 Million for Rice Cultivation in West Africa.

African Development Fund Allocates $99 Million for Rice Cultivation in West Africa.

Funds to boost rice production, empower farmers, and enhance food security in West Africa

 ABIDJAN, Ivory Coast  (BG) – The African Development Fund has approved $99.16 million in initial funding for the Regional West Africa Rice Development Project, according to a statement, 

The initiative aims to boost food security and self-sufficiency in rice across West Africa by encouraging public and private investment in rice value chains.

This funding will benefit Gambia and Guinea-Bissau at the national level, the  Economic Community of West African States (ECOWAS )and AfricaRice regionally.

Grants include $15.95 million for Gambia, $43.88 million for Guinea-Bissau, $19.94 million for AfricaRice, and $19.39 million from the African Development Bank’s Transition Support Facility for fragile countries. Local governments and beneficiaries will contribute the remainder.

The project focuses on increasing rice production, enhancing income generation for women and youth, and strengthening resilience to climate change.

At the national level, it will develop irrigation infrastructure, distribute climate-smart seeds, improve processing and marketing, and enhance farmers’ access to finance and mechanization.

Regionally, AfricaRice will provide technical support, including seed production and innovation in rice cultivation. 

ECOWAS will oversee policy and regulatory reforms, contributing to better governance through the ECOWAS Rice Observatory.

The initiative will benefit thousands of farmers in 15 West African countries. In Gambia, 20,000 rice farmers, including 6,000 women and 4,000 youth, will gain access to seeds, fertilizers, and mechanization.

In Guinea-Bissau, 16,000 rice farmers, including 5,000 women and 3,000 youth, will benefit similarly.

The project highlights the region’s commitment to addressing food insecurity and empowering vulnerable populations through sustainable agricultural practices.

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