IFAD loan of US$18.5 million will boost food security and raise incomes of farmers in Côte d’Ivoire
26 March 2018
Rome, 27 March 2018 – Over 32,500 rural households in the Bagoué, Poro, Tchologo, Hambol and Gbêkê regions will benefit from a financial agreement signed today between the International Fund for Agricultural Development (IFAD) and Cote d’Ivoire to increase the incomes and food and nutrition security of rural households. The programme will promote market-oriented agriculture and help farmers add value to their products, as a way to reduce rural poverty and stimulate economic growth in the programme areas.
The financing agreement for the Agricultural Value Chains Development Programme (PADFA) was signed in Rome by Gilbert F. Houngbo, President of IFAD, and Seydou Cissé, Permanent Representative of the Republic of Côte d’Ivoire to FAO, IFAD and WFP.
The total cost of the programme is US$71.8 million, including a $18.5 million loan from IFAD. The project will be cofinanced by the OPEC Fund for International Development ($19 million), the Government of Côte d’Ivoire ($4.2 million), and the beneficiaries themselves ($10.2 million), with $19.9 million to come from other sources.
In Côte d’Ivoire, agricultural development projects have traditionally concentrated on boosting productivity, but insufficient investments have been made in post-harvest activities such as conservation, processing and marketing. The IFAD-funded Support to Agricultural Production and Marketing Project (PROPACOM) and other projects have introduced hydro-agricultural improvements and invested in disseminating improved farming technologies. Drawing lessons learned from the experience of these projects, PADFA will ensure continuity with PROPACOM and scale up tangible results while introducing further innovations.
PADFA will concentrate on improving packaging, storage, processing and marketing, and will expand the supply of rice, vegetables and mango. These agricultural products were selected on the basis of economic value, profitability and competitiveness, as well as domestic and international market demand. In addition, they will have potential impact on farm household incomes, particularly among young people and women, and will contribute to the national economy through import substitution and higher exports, and to food security and better nutrition.
PADFA will work with various players in the value chain of the target agricultural products, including the private sector to increase income of the smallholder producers by identifying areas where efficiency, productivity and quality can be improved. To increase their incomes, smallholders need both to create a surplus for sale and to develop the post-harvest capacities that will enable them to reach a market. PADFA will help producers connect to the value chains for their respective products.
Since 1984, IFAD has financed 11 rural development programmes and projects in Côte d’Ivoire for a total cost of $411.8 million, with an IFAD investment of $178.4 million directly benefiting 585,500 rural households.
Press release No.: IFAD/23/2018
IFAD has invested in rural people for 40 years, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since 1978, we have provided about US$19.7 billion in grants and low-interest loans to projects that have reached some 474 million people. IFAD is an international financial institution and a specialized United Nations agency based in Rome – the UN’s food and agriculture hub.