The Government of Liberia (GoL) and the International Fund for Agriculture Development (IFAD), have signed a US$47.6 million Tree Crops Extension Project II (TCEP II) to improve food and nutrition security for about 10,000 cocoa smallholder’s producers. IFAD is an international financial institution and a specialized United Nations agency known as the UN food and agriculture hub, based in Rome, Italy. The statement said that the project financing includes a US$11.9 million grant from IFAD, and will be co-financed by the private sector (US$3.4 million), the GoL (US$2.5 million) and the beneficiaries themselves (US$1.8 million). It said IFAD is working to fill the financing gap of US$16.2 million with climate financing and additional co-financing for rural roads in the project area. Since 1981, IFAD has financed seven rural development programs and projects in Liberia at the total cost of US$164.9 million, with an IFAD investment of US$101.9 million.

Source: Daily Observer May 08, 2019 02:26 UTC