AfDB approves $77 million to boost Uganda’s agriculture sector
Summary
The financing is for the second phase of Uganda’s Farm Income Enhancement and Forestry Conservation Programme.
The African Development Bank (AfDB) has approved a $76.7 million loan to boost Uganda’s agricultural sector.
In a press statement released on Wednesday, AfDB said the financing is for the second phase of Uganda’s Farm Income Enhancement and Forestry Conservation Programme, which focuses on improving farm incomes, rural livelihoods, food security, climate resilience, sustainable natural resource management, and agricultural enterprise development. The first phase of the programme was completed in December 2012.
The AfDB programme is part of the bank’s Ten-Year Strategy (2013-2022) and High 5s for Uganda, which prioritizes agriculture and food security as key areas for future assistance. The total cost of the programme is estimated at $91.43 million – AfDB is providing $76.7 million, the Nordic Development Fund will provide $5.6 million, and the Ugandan government provides $9.13 million in counterpart funding.
The programme will be implemented over five years in five districts where irrigation schemes are located – Nebbi, Oyam, Butaleja, Kween, and Kasese. The districts have an estimated 1.8 million population, with 52 percent of them women. Outside irrigation command areas, the programme will also benefit 300,000 households, with women heading 20 percent of them.
In 2013, a Uganda National Household Survey reported that about 19.7 percent of the East African nation’s 38 million population were unable to meet their basic needs. The survey also stated that the incidence of poverty was highest among the food-crop growing category in the rural areas where incomes are low.
Chibuike Oguh is Financial Nigeria's Frontier Markets Analyst
Related
-
IFAD’s support to strengthen agriculture capacity in DRC
International Fund for Agricultural Development has agreed to invest $33.8 million to finance an agricultural project in ...
-
A transformed fertilizer market is needed in response to the food crisis in Africa
Natural gas markets are being drained for future winter heating and chemical production, leaving too little for current ...
-
Researchers advocate changes in small-scale farming methods to prevent biodiversity losses
The researchers say agricultural practices of small-scale farmers are environmentally unfriendly.
Sustainable Development Section Sponsor
-
Access Bank Plc ...Financing the future
-
... Sustainable Cities
Most Popular
- Access Bank Project 111 providing a lifeline for women battling fibroids
- India’s sustainable eating habits offer hope for climate change mitigation
- COP29: Multilateral development banks to boost climate finance
- Unpaid care work prevents 708m women from participating in labour market
- Africa Finance Corporation facilitates $200mn financing for BUA Group
