World Bank Supports Benin to Improve its Agricultural Productivity and Diversification
The World Bank’s Board of Directors today approved a 5-year credit and grant to the Government of Benin in the amount of US$46 million (about FCFA22 billion) for the Agricultural Productivity and Diversification Project. The financing package includes an IDA credit of US$6 million, a US$25 million IDA grant, and a US$15 million grant from the Global Food Crisis Response Program (GFRP).
The new project aims to restore and improve productivity and value addition for selected value chains. More than 165,000 direct beneficiaries (including 40% female) are expected at the end of the Project to use improved agricultural techniques and practices regarding the production, processing and marketing of products from the targeted value chains. Other outcomes include: 60,000 tons of annually produced milled rice, 70,000 tons of annual cashew and pineapple exports, and a total yield of 60,000 tons per hectare of pineapple in the Project area.
Improving agricultural productivity and strengthening diversification are on the top of the agenda of the agricultural and overall development strategy in Benin. The country’s long-term vision is to move towards a greater diversification of agricultural production in order to become a major exporter of agricultural products by the year 2025. The PADA therefore comes in support of the country’s efforts to achieve a good and sustainable development of the agricultural sector.
It also contributes to achieve the goals of the World Bank’s Country Assistance Strategy for Benin which, inter alia, aims to enhance the contribution of agriculture to growth by supporting: (i) short-term emergency measures to enhance domestic food crop production in response to the food price increases; and (ii) medium to longer-term interventions to improve competitiveness and diversification in the sector.
The PADA will also work to remove the constraints to the long term development of key value chains while providing short-term relief to restore agricultural productivity in households who have been severely affected by the unprecedented 2010 floods.
web.worldbank.org
This article was originally posted on Africa Agribusiness Platform
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