$150 million to improve agriculture and livestock competitiveness
WASHINGTON, May 12, 202 —The World Bank Board of Executive Directors approved today a US$150 million IDA credit to support Senegal in strengthening agricultural productivity and helping build resilient, climate-smart and competitive food systems.
The Agriculture and Livestock Competitiveness Program for Results will help increase exports of high-value crops such as shelled groundnuts and horticultural products, and dairy farming productivity, and reduce the mortality rate of small ruminants.
“The program is anchored in the Plan Sénégal émergent and will help mitigate the negative impacts of the Covid-19 pandemic by boosting agricultural and livestock productivity while ensuring resilient production practices and improving revenues for farmers and herders,” said Nathan Belete, World Bank Country Director for Senegal.
The program will focus on helping small-scale producers and herders invest in more productive and resilient crops and livestock value chains and will provide access to finance and insurance to producers in the extended Groundnut Basin and agro-pastoral areas. It will work with the government to engage in more efficient pricing, quotas and subsidy policies.
This will help boost competitiveness and job creation through private sector-led growth as part of the County Partnership Framework. It will also support activities and reforms embedded in the Program for Accelerated Pace of Agriculture (PRACAS II) and the National Livestock Development Plan (PNDE).
- The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 76 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to the 1.6 billion people who live in IDA countries. Since 1960, IDA has supported development work in 113 countries. Annual commitments have averaged about $21 billion over the last three years, with about 61 percent going to Africa.
PRESS RELEASE NO: 2020/116/AFR