Thu, 10 Aug 2017 12:52 - Economy
The agreement for the funding of the SADCP-CH was signed by IFAD president, Gilbert Fossoun Houngbo, and by the Angolan permanent representative to the UN agency, Florêncio de Almeida.
The overall cost of the project is Usd 38.2 million, including the IFAD’s Usd 28.8 million, added to Usd 8.2 million plus Usd 1.1 million from the beneficiaries themselves.
The project pays a particular attention to the rural women and young men and is meant to increase agricultural production and trade of goods from the countryside and thus ensure food security to needy people.
The SADCP-CH is also intended to provide the peasants with agricultural technologies to strengthen their agricultural skills, make their access to water easier and develop irrigation systems with a focus on the rehabilitation of existing systems covering about 500 hectares.
It also provides support for farmers' organisations to promote climate-resilient agriculture for key priority food and horticultural crops, as well as to promote investments to reduce post-harvest losses, strengthen market linkages and low-cost storage technologies and processing of perishable products.
The expectation is also of increasing the demand for goods and services in rural areas, in order to stimulate the creation of non-agricultural jobs, in particular for young people.
Since 1991, IFAD has funded six rural development programmes and projects in Angola, worth Usd 139.7 million, directly benefiting 261,600 rural households.
Florencio de Almeida, who was assigned by the Finance minister to sign the document, said the agreement shows the excellent relations between the Angolan State and IFAD, based on a commitment to fight hunger and reduce rural poverty.
The ambassador reaffirmed Angola's commitment to remaining at the forefront of developing countries, to ending the scourge of hunger and poverty, and expressed the Angolan Government's willingness to continue to work closely with IFAD through financial contributions.