Gambia: IFAD allocates more than €26 million to support farmers

Nov 14, 2012

The International Fund for Agricultural Development (IFAD) will fund a $34 million (€26.7 million) project in the Gambia aimed at increasing farmers' incomes.

The International Fund for Agricultural Development (IFAD) will fund a $34 million (€26.7 million) project in the Gambia aimed at increasing farmers' incomes. Named NEMA, this initiative focuses on small farmers, particularly women and young people, with a view to enable them to make better use of land and water in order to increase their production, explained Gambian Ministry of Economy and Finance Mod K Ceesay, reports the Xinhua news agency. In Gambia, where 40 percent of young people are unemployed, IFAD interventions focus on agricultural and rural development, while facilitating and promoting access to microfinance. All projects pursue an overall goal of rural poverty reduction by improving household food security and income. According to the "African Economic Outlook report" (2012), directed by the African Development Bank, the economic growth of Gambia has been mainly driven since late 2008 by the good performance of the agricultural sector, which accounts for nearly a third of Gross Domestic Product.