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Reading: Africa: African Development Bank provides $102.79 million in financing for farmers in Guinea, Senegal and Togo
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© 2023 Invest-Time. By Afrik-Shine Medias Group. All rights reserved.
Finance

Africa: African Development Bank provides $102.79 million in financing for farmers in Guinea, Senegal and Togo

The Board of Directors of the African Development Bank (AfDB) Group recently approved $102.79 million in financing to support an ambitious program aimed at strengthening agricultural value chains in the Special Agro-Industrial Processing Zones (SAPZs) of Guinea, Senegal and Togo.

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Published: 19 September 2024
Last updated: 19 September 2024
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Africa: African Development Bank provides $102.79 million in financing for farmers in Guinea, Senegal and Togo

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The aim of this multinational program is to develop agriculture in these three countries, while taking into account the challenges of climate change and the reduction of greenhouse gas emissions. The funds released by the AfDB support three major agro-industrial projects: the Togo Agro-industrial Transformation Project, the Senegal Agropole-Sud initiative, and the Development Program for the Boké and Kankan Special Agro-industrial Transformation Zones in Guinea.

These projects, currently underway, aim to improve agricultural infrastructure, production technologies and introduce sustainable practices across the region.The program will benefit 1,104,728 farmers directly and 5,612,415 people indirectly. It should be noted that half of the beneficiaries will be women, with the aim of strengthening their participation in agricultural value chains. The AfDB also plans to install small-scale irrigation systems covering 39,179 hectares, as well as 2.59 megawatts of solar energy to pump water.

Access to renewable energy is another essential component, with the installation of solar equipment with a total capacity of 14.69 MW and the use of 10.24 MW generated by bio-digesters transforming animal manure into biogas to produce electricity.

Sustainable solutions to climate challenges

In addition to supporting irrigation systems and the use of clean energy, the program encourages the adoption of climate-resilient agricultural practices. Among other things, it provides for the establishment of 40,000 hectares of agroforestry to capture carbon, thereby meeting greenhouse gas emission reduction targets. The program also includes large-scale climate information services, notably through the creation and expansion of agrometeorological and rainfall station networks. This will strengthen early warning systems and provide crucial climate information to help farmers cope with increasingly uncertain weather conditions.

Support for women farmers

As part of its inclusive approach, the AfDB pays particular attention to women, offering them privileged access to innovative small-scale irrigation technologies and climate information services. The program will also facilitate relations between women farmers and processing cooperatives, while encouraging the use of low-carbon technologies for drying, processing and packaging agricultural products.Kazuhiro Numasawa, Head of the SAPZ Operations Division at the AfDB, said: “I am delighted to reach this important milestone.

This is the first Green Climate Fund financing dedicated to the Bank’s Special Agro-Industrial Processing Zones program in Africa.”This initiative is part of a broader framework to promote sustainable agriculture and stimulate local economic growth. By taking into account energy and climate challenges, this program positions Guinea, Senegal and Togo as examples of inclusive and sustainable agricultural development.With this financing from the AfDB, the prospects for farmers in these three countries look very promising.

This program could usher in a veritable agricultural revolution in the region, where innovation, sustainable development and economic inclusion go hand in hand. With this commitment, the African Development Bank is setting African agriculture on the path to a greener, more prosperous and more equitable future for all. A new impetus is blowing through African agriculture, and the results of this transformation will not be long in coming.


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