IFAD supports agriculture and fisheries in Mozambique

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    • AvatarEbigide Jude

      The Bank of Mozambique and the International Fund for Agricultural Development (IFAD) signed two financing agreements totalling US$115.5 million for agriculture and fisheries in Rome, the Mozambican press reported.
      The financial agreement for the development of Small-Scale Aquaculture (PRO-DAPE), with a value of US$43 million, aims to contribute to the improvement of living conditions, food security and resilience to climate change.

      The Programme for Value Chain Development in the agriculture sector, worth US$72.5 million, is intended to contribute to the development of life and food security and in critical regions of the country.

      Support for the new programme for food security and resilience to climate change will benefit at least 902,500 rural producers in Mozambique, one of the African countries affected by those changes.

      In Mozambique, 70% of the population lives in rural areas and is highly vulnerable to climate change, and it is the third most-affected country in Africa, with approximately 58% of the population affected by these changes.

      Mozambican daily newspaper Notícias, reported that the two agreements were signed by the deputy governor of the Bank of Mozambique, Victor Gomes, and by Donald Brown, the associate vice president of IFAD, a United Nations agency.

      Source: http://startupafrica.news

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