World Bank releases $39m for Fadama projects

The World Bank says it has so far spent about N7.78bn ($39m) on the

third National Fadama Development Project Additional Financing as part

of efforts to support Nigeria's agriculture and economic

diversification drive of the Federal Government.

The bank also said in a statement signed by its Task Team Leader, Dr.

Adetunji Oredipe, that it would commence its Fadama Implementation

Support Mission from the 10th to 27th of June across eight states of

the country in conjunction with the federal ministries of Finance and

Agriculture.

"The board of the bank had approved additional IDA credit of $200m on

June 28, 2014 to assist the Federal Government of Nigeria to scale up

the impact on the ground and strengthen the development effectiveness

of the Third National Fadama Development Project by aligning it more

closely with the government's agricultural programmes," the bank noted

in a statement.

It added that the additional financing would support clusters of

farmers in six selected states with comparative advantage and high

potential to increase production and productivity of cassava, rice and

sorghum, as well as horticulture value chains and link them to better

organised markets.

According to the bank, as of the last mission in January 2016, 930

business plans have been prepared across the states, out of which 424

business plans have been approved and disbursed.

The bank added, "These business plans covered 5,088 hectares of farms

across the four value chains across the core and production cluster

states. Also, harvesting of rice cultivated during the rainy season

has been completed in Kano, Lagos, Niger and Enugu States while

cassava has been harvested in Kogi State.

"In addition, the first microfinance bank established through savings

mobilised by Fadama Farmers Community Association in Plateau State has

been completed and received provisional and operational licence from

the Central Bank of Nigeria for take-off while construction and

rehabilitation of the Agricultural Equipment Hiring Enterprises

centres are ongoing in all the core states except in Lagos and Enugu

where lack of counterpart funds has delayed commencement."