World Bank has approved a $150-million (about 90 billion CFA francs) credit from the International Development Association (IDA) to improve the competitiveness of agriculture and cattle breeding in Senegal, a press release sent to APA on Wednesday said.
Senegal’s result-oriented Agriculture and Livestock Competitiveness Program will help increase exports of high value-added crops, such as shelled peanuts and horticultural products, as well as the productivity of dairy farming. It will also reduce the mortality rate of small ruminants.
“Aligned with the Emerging Senegal Plan, this program will help to mitigate the negative effects of the Covid-19 pandemic by stimulating agriculture and livestock the productivity, while ensuring resilient production practices and improving the incomes of farmers and ranchers,” said Nathan Belete, the Director of Operations for the Bank in Senegal.
The program will help small producers and pastoralists invest in more productive and resilient crops and livestock value chains. It will also provide producers in the extended groundnut basin and agro-pastoral areas with access to finance and insurance. Finally, it should allow the government to put in place more efficient pricing, quota and subsidy policies.
It will help stimulate competitiveness and job creation through growth driven by the private sector in the framework of the partnership between Senegal and the World Bank. It will also support the activities and reforms included in the Agriculture Acceleration Program (PRACAS II) and the National Livestock Development Plan (PNDE).
TE/fss/abj/APA