12 February 2021 By Victoria Abah.
The Kogi State Government has signed two subsidiary loan agreements with the International Fund for Agricultural Development, IFAD, and the World Bank to boost the agricultural sector in the State.
This is contained in a statement by the Chief Press Secretary to the Governor, Mr. Muhammed Onogwu.
The statement says, the IFAD and World Bank sixty two and ten million dollar loans signed on behalf of the State government5 by the Commissioner of Finance, Budget and Economic Planning, Mr. Mukadam Idris would improve roads, agriculture, market
and value chain development.
It explains that the IFAD assisted Value Chain Development Programme is an agricultural initiative aimed at reducing rural poverty, enhance food security and promote economic growth on a sustainable basis.
According to the statement, the programme is essentially on the production, processing and marketing of rice and cassava in targeted LGAs in the state.
It says the programme is made up of three basic components which are: Agricultural Market development for value addition, market linkages, support market infrastructure to build a very strong agro business and value chain orientation to farmers in rural communities.
The statement adds that the World Bank loan for Rural Access and Agricultural Marketing Project, will upgrade over 500 kilometres of rural roads, improve agro-logistics centres, enhance access to local markets and agribusiness services in the State.
It notes that the project is to be jointly funded by the World Bank, French Development Agency and the Government of Nigeria.