The Kogi State government has announced that it signed two deals from World Bank and the International Fund for Agricultural Development (IFAD) valued at $62 million and $10 million respectively, to boost over 500 kilometres of rural roads, and agriculture development to fight food security in the state.
This was disclosed by Mohammed Onogu, Chief Press Secretary to Governor Yahaya Bello, in a statement on Friday in Lokoja.
He said the IFAD programme is an Assisted Value Chain Development Programme to create
“agricultural initiative aimed at reducing rural poverty, enhancing food security among the poor households and promoting economic growth on a sustainable basis.”
The Kogi State Government has signed two agreements with the World Bank and International Fund for Agricultural Development (IFAD) for subsidiary loans of $62m and $10m respectively.
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The loans, obtained from the World Bank and the International Fund for Agricultural Development (IFAD), were signed on behalf of the state by Asiru Idris, Kogi commissioner of finance.
While the state obtained $62 million from the World Bank, it secured $10 million from IFAD.
In a statement on Friday, Mohammed Onogwu, chief press secretary to Yahaya Bello, Kogi governor, said the IFAD facility would be injected into the Value Chain Development Programme.
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The programme is an agricultural initiative aimed at reducing rural poverty, enhancing food security among poor households, and promoting economic growth on a sustainable basis.
He said the programme would support the production, processing and marketing of rice and cassava in some local government areas of the state.
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The Kogi State Commissioner of Finance, Budget and Economic Planning, Mukadam Asiwaju Asiru Idris had signed two separate subsidiary loan agreements on behalf of the Kogi State Government, with the International Fund for Agricultural Development (IFAD) and World Bank yesterday in Abuja.
The World Bank and International Fund for Agricultural Development loans of $62 million and $10 million respectively signed by the Kogi State Government is for rural roads, agriculture market and value chain development
The IFAD assisted Value Chain Development Programme is an agricultural initiative aimed at reducing rural poverty, enhance food security among the poor households and promote economic growth on a sustainable basis.
Kogi govt signs two loans agreement to boost food security, improve local economy Kogi govt signs two loans agreement to boost food security, improve local economy
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The Kogi State Commissioner of Finance, Budget and Economic Planning, Mukadam Asiwaju Asiru Idris, had signed two separate subsidiary loan agreements on behalf of the Kogi State Government, with the International Fund for Agricultural Development (IFAD) and World Bank, on Friday, in Abuja.
The World Bank and International Fund for Agricultural Development loans of $62million and $10million respectively signed by the Kogi State Government is for rural roads, Agriculture market and value chain development