The project includes the development and rehabilitation of 1,410 hectares divided into several lots.
In Burkina Faso, the African Development Bank (AfDB) and the International Fund for Agricultural Development (IFAD) have formalised an agreement to administer funds for the financing of the Léraba Plain Development and Improvement Project (Paval, West).
The agreement was signed recently by Mrs. Hassatou Diop N’Sele, Acting Vice President in charge of finance, and Mr. Donal Brown, Assistant Vice President, Programme Management Department of IFAD.
“As the African Development Bank, we are particularly pleased that the International Fund for Agricultural Development has placed its trust in us to administer its loan to the Paval, especially since this is the first fund administration agreement between our two institutions and will pave the way for many more such collaborations that our two institutions wish to develop across Africa,” N’Sele.
Mr. Brown emphasized “the synergies that this partnership will strengthen between Paval and the IFAD-funded PAFA-4R Project in Burkina Faso” and that this letter of understanding “opens the door to a mutually beneficial and long-term collaboration between our two institutions.”
Paval is a hydro-agricultural development project downstream of the Niofila-Douna dam, located in the Cascades region around the town of Douna in western Burkina Faso. The Board of Directors of the African Development Bank Group approved in July 2019, a €26.94 million loan from the Bank and a €4.9 million grant from the African Development Fund, its concessional window. The International Fund for Agricultural Development loan to be administered by the Bank amounts to €8.22 million. It will be used to finance a large part of the project’s Component B activities, relating to the development of irrigated areas.
Paval will increase productivity, production and farmers’ (men, women and young people) agricultural income in a sustainable manner.
TE/lb/abj/APA