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Tag: IFAD

  • IFAD commits $88.5m to agric

    The International Fund for Agricultural Development (IFAD) said it has spent about $88.5 million to support the Federal Government Agricultural Transformation Agenda (ATA).

    IFAD President, Dr. Kanayo Nwanze, disclosed this in Abuja, yesterday during a visit to the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina.

    He said the amount would also include financing of a new project in the country’s agricultural sector, which will be between 2013 and 2015.

    He said: “I am very delighted with reassurances of progress in the transformation agenda, value-chain development programme that IFAD had already committed some funds and the possibility of developing a new programme in the current cycle of 2013 to 2015 where IFAD has committed $88.5 million to support the Ministry’s agricultural transformation agenda.”

    Nwanze added that the upcoming project would be designed and developed in collaboration with the Agriculture Ministry which would suit the strategies and priorities of the Federal Government.

    Speaking on poverty eradication, he said IFAD is planning to move 80 million people out of poverty circle, adding that the institution would continue to assist the nation’s agriculture development.

  • Nigerian re-appointed into IFAD’s post

    Nigerian re-appointed into IFAD’s post

    Nigeria’s Kanayo Nwanze was re-appointed on Wednesday to a four-year term as president of the United Nations Rome-based International Fund for Agricultural Development (IFAD), the organisation said.

    Nwanze said in a speech that he would aim to generate “vibrant rural areas” that could ensure “a dynamic flow of economic benefits between rural and urban areas”, IFAD said in a statement.

    The AFP news agency reports that Nwanze was first appointed to the post in 2009.

    IFAD is one of the three UN’s food agencies in Rome along with the Food and Agriculture Organisation (FAO) and the World Food Programme (WFP).

  • IFAD spends $447,000 on agric project in Cross River

    IFAD spends $447,000 on agric project in Cross River

    Cross River has accessed 447,000 dollars from the International Fund for Agriculture Development (IFAD) for projects since 2006, the State Programme Officer, Mr Innocent Ogbin, said.

    Ogbin told the News Agency of Nigeria (NAN) in an interview in Calabar that the amount represented 40 per cent of the total project cost.

    He said that the lack of prompt payment of counterpart funds from contributory partners was responsible for the low level of implementation of IFAD programmes in the state.

    “So far, we have been able to draw down 447,000 dollars from IFAD to date and that is just over 40 per cent. We still have more than over 50 per cent yet to draw.

    “And the reason is because of low commitment in terms of counterpart funding, ‘’ he said.

    Ogbin said that the state government had paid N154 million as counterpart funding between 2006 and 2011 but had yet to pay for 2012.

    “The state is doing very well, the state’s yearly contribution is N45 million, which they have paid upto 2011, as at today, the state is 75 per cent compliant.

    “ But the huge challenge lies with the local government councils. Incidentally, this takes about 45 per cent of the entire project funding.

    “So you can agree that if you take away 45 per cent funding in the project, the remaining 55 per cent cannot complete the project. That is a huge challenge, ‘’ Ogbin said.

    He, however, said that an agreement had been reached for the funds to be deducted at source from the accounts of the nine councils involved in the project.

    “But now we have been able to get the commitment of local government councils involved. And they are in line with the agreement that this fund should be deducted from their allocations.

    “We hope that by the first quarter of 2013, these funds would be paid, ‘’ Ogbin said.

    He said that his office had devised a means of taxing the benefiting communities in order to augment the lack of payment of counterpart funds by the councils.

    He further said that in spite of the shortcoming by the councils, they were still asking for more projects in their communities.

    “The councils are equally asking for expansions of the projects to more communities which we had recommended in the last review mission, ‘’ he added.