29 C
Sierra Leone
Sunday, February 5, 2023

Sierra Leone and World Bank Sign Agreement for New Project to Link Farmers to Agribusiness

HomeAYV NewsSierra Leone and World Bank Sign Agreement for New Project to Link...

Sierra Leone and World Bank Sign Agreement for New Project to Link Farmers to Agribusiness

Date:

Related stories

Petty traders call on parliament to tackle price hike in cooking condiments

Some petty traders who spoke to AYV have appealed...

Retail Fuel Pump Prices Adjusted to NLe21.5

Following the recent upsurge in the global prices of...

ARISE IIP Founder and CEO Assures Sierra Leoneans of Massive Investments

By Amadu Lamrana Bah reporting from Benin The Founder and...

This is a golden era for women, girls in Sierra Leone …President Bio tells school going pupils in Bo city

By Joseph S. Margai, Strategic Communication Coordinator President Julius Maada...

 

 

This project will help the country to recover from the effects of the Ebola Virus Disease (EVD) and to contribute towards higher medium to long-term agricultural growth required to reduce extreme levels of poverty among smallholder farmers and promote shared growth,” said Henry Kerali, World Bank Country Director for Sierra Leone.

 

Before the Ebola virus disease (EVD) epidemic which hit the country in May 2014, Sierra Leone had been making commendable progress since the end of the civil war in 2002. The Ebola crisis has taken a heavy economic toll on the country, with much of the economic impact still unfolding.

 

There is an urgent need to strengthen post-Ebola growth prospects by investing in key sectors such as agriculture, and this project will support Government’s efforts in this area” said Parminder Brar, World Bank Country Manager for Sierra Leone.

 

The project will also set up an agribusiness development fund to leverage private sector investment in agriculture to foster smallholder participation. It will establish a smallholder credit scheme implemented by the APEX Bank LTD, and rehabilitate feeder roads to link smallholder farmers to markets. Finally, it will provide technical advisory services and build state and non-state institutions capacity, including farmers groups that provide essential services for agribusiness development.

 

We believe this operation presents innovative aspects addressing the key challenges affecting smallholder productivity and growth,” says Simeon Ehui, World Bank Manager, West Africa Agriculture Global Practice.

 

The Smallholder Commercialization and Agribusiness Developmentproject will benefit 50,000 smallholder farmers, of which 40%will be women and youth farmers. It is consistent with Sierra Leone’s goal of achieving inclusive growth, which is one of the key pillars of the country’s longer term development strategy – the Agenda for Prosperity.

 

The project will be implemented in all regions of the country.

Business News

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once