The Gambia government has secured a loan of $80 Million from the International Fund for Agricultural Development (IFAD) and another loan close to $30 million from the Islamic Development Bank (IDB) and Arab Bank for Economic Development in Africa (BADEA).

The loans are meant to increase agricultural production mainly rice, Gambia’s staple food and create access to market for rural farmers.

The loan documents were brought before a cabinet meeting by the Minister of Finance and Economic Affairs, Mambury Njai at the State House in Banjul on Wednesday and were subsequently approved after a thorough discussion.

The intended agricultural projects under these facilities also seek to encourage more women and youth participation in farming activities.
According to government officials, forty women groups, six new cooperative societies and 240 youth-led small businesses will be set up.

The planned projects also include training female entrepreneurs in rice production and vegetable production and record keeping.

Five administrative regions will be covered in the projects, and are set to benefit some 40.000 households in 39 districts mainly poverty rooted areas.

The Gambia under the government of President Adama Barrow is poised to revive rice production in rural communities, and expand the sector to meet the local consumption demand and export the excess.

The Chinese government has agreed to support the Gambia in the mechanisation of rice production as part of bilateral cooperation between Banjul and Beijing.

(APA)