BURKINA FASO – The African Development Bank and the International Fund for Agricultural Development (IFAD) have signed an agreement for the funding of the Léraba Plain Management and Development Project (PAVAL).
The agreement was signed by Ms. Hassatou Diop N’Sele, Acting Vice-President in charge of Finance, on behalf of the AfDB Group, and by Mr. Donal Brown, Assistant Vice-President in charge of the program management, on behalf of IFAD.
“We are particularly pleased with the confidence granted by the IFAD for the administration of its loan for the benefit of PAVAL, being the first agreement administration of funds between our two institutions,” said Ms. N’Sele.
It is designed to emphasize the value chain approach in an inclusive manner with the development of the rice, maize, and horticulture sectors.
The project also takes into account the gender approach with the involvement of women and young people in decision-making and sharing of the fruits of growth.
An additional loan from International Fund for Agricultural Development is to be administered by the AfDB amounting to US$9.19 million.
The funding is dedicated to taking charge of a large part of the activities of component B of the project, relating to the development of the developed irrigated areas.
It will make it possible to increase the productivity, production, and agricultural income of farmers (men, women, and young people) in a sustainable manner.