World Bank Earmarks $200 Million For Execution Of FADAMA III Projects

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The World Bank has allotted a total of $200 million for execution of FADAMA III projects across six states in Nigeria by the World Bank.

This was made known by World Bank Task Leader, Abimbola Adubi, during a courtesy call on Governor Idris Wada in Lokoja, Kogi State yesterday.

He was there for the Bank/Federal Government supervision mission on the implementation of FADAMA III additional financing project in the state.

He said the World Bank is committed to the success of the projects in the country, adding that the mission was anchored on monitoring, evaluation, review and implementation process by identifying challenges and how to overcome them.

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“The Crop Processing at Alape is part of additional financing of the project. The key area of production in FADAMA III is production of cassava, rice, sorghum, tomatoes and horticulture. The six states for the project are Kogi, Lagos, Niger, Enugu, Anambra and Kano. World Bank will support the project with $200 million,” he said.

Adubi explained that for effective disbursement of the fund by the bank, the beneficiary states must sign the financing agreement form and return it to the bank through the Federal Government as well as pay their counterpart fund. He added that the World Bank believes that development could be achieved through agriculture.

Governor Wada, in his response, assured that the state will continue to create the enabling environment to ensure easy access to essential farm inputs and equipment such as fertilisers, agro-chemical and tractor services.

The governor, who was represented by his deputy, Yomi Awoniyi, while assuring the team of prompt payment of counterpart fund, said they had so far committed N160 million as counterpart fund for implementation of FADAMA III project in the state.

He said N56,355,000 has also been paid as counterpart fund for 2014 for effective take-off of FADAMA III additional financing in the state

 

 

 

 


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