Home News State By State Kogi Govt. Signs $72m Loans Agreement With IFAD, World Bank

Kogi Govt. Signs $72m Loans Agreement With IFAD, World Bank

Yahaya Bello

By Olawale Ibrahim, Lokoja

Kogi State government on Friday signed two seperate loans agreement running to $72 million to boost food security and production in the state

The Kogi State Commissioner of Finance, Budget and Economic Planning, Asiwaju Asiru Idris who signed two separate subsidiary loan agreements on behalf of the Kogi State Government, with the International Fund for Agricultural Development (IFAD) and World Bank in Abuja.

This was contained in a statement signed by the Chief Press Secretary to the Governor,  Mr. Muhammad Onogwu copy of which was made available to journalists in Lokoja on Friday , stated that the State government was determined to boost food production .

The  World Bank and  International Fund for Agricultural Development loans of $62million and $10million respectively signed  by the Kogi State Government is for Rural Roads, Agriculture Market and Value Chain Development

The IFAD assisted Value Chain Development  Programme is an agricultural initiative aimed at reducing rural poverty, enhance food security among the poor households and promote economic growth on a sustainable basis.

The programme is essentially on the production, processing and marketing of rice and cassava in targeted LGAs in the state.

The programme is made up of three basic components which are: Agricultural Market development, to support value addition, market linkages and support to market infrastructure and to build a very strong agro business and value chain orientation to farmers in rural communities.

The other component is smaller productivity enhancement while the third programme is management and coordination.

The World Bank loan for Rural Access and Agricultural Marketing Project(RAAMP) will upgrade over 500kilometres of rural roads, improve agro-logistics centres as well as enhance connectivity and access to local markets and agribusiness services in the State. The project is to be jointly funded by the World Bank, French Development Agency and the Government of Nigeria.


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