Logo

Lesotho receives US$10mn loan and grant

US$10mn IFAD loan and grant to Lesotho to increase agricultural production by small farmers

US$10mn IFAD loan and grant to Lesotho to increase agricultural production by small farmers US$10mn IFAD loan and grant to Lesotho to increase agricultural production by small farmers

The International Fund for Agricultural Development (IFAD) will provide a US$5mn loan and US$5mn grant to the Kingdom of Lesotho to increase market opportunities for smallholder farmers and improve agricultural productivity in four of the ten districts of the country- Botha-Bothe, Leribe, Berea and Mafeteng. The loan and grant agreement for the Smallholder Agriculture Development Project was signed by Jonas Sponkie Malewa, Ambassador of the Kingdom of Lesotho, and Yukiko Omura, Vice President of IFAD.

Over 70 per cent of the country’s population live in rural areas. More than three quarters of these people are engaged in agriculture. Until a few years ago remittances from migrant mine workers in South Africa were a major source of income for rural people, providing vital cash needed to purchase agricultural inputs and productive assets or to invest in household assets and housing. However, a steady decline in remittances over the past years has hit hard rural populations. Although there has been some economic growth in the country, income generating opportunities are still limited in the rural areas.

The new project will support smallholder farmers and farmer groups to take advantage of opportunities to increase agricultural productivity and diversify into market oriented agriculture. To help develop markets for their outputs, the project will also support agriculture-related rural businesses.

Co-financed by the International Development Association of the World Bank (IDA) through a US$10mn credit and the government of Lesotho, about 15,000 rural households will directly benefit from the project, of which about 50 per cent are women. With this new project, IFAD will have financed eight programmes and projects in Lesotho for a total IFAD investment of approximately US$60.3mn benefitting more than 130,000 households.


LATEST NEWS IN Agriculture

Nature-based solutions help farmers in Ghana

Nature-based solutions help farmers in G…

Organic pesticides, waste-based fertilisers and forest regeneration are just a few of the green initiatives being employed in Ghana to boost farming communities’ resilience to the impacts of climate...

Boosting soil nutrient mapping in sub-Saharan Africa

Boosting soil nutrient mapping in sub-Sa…

The Food and Agriculture Organization of the United Nations (FAO) is set to fast track an impact-oriented project in sub-Saharan Africa and Central America for digital soil nutrient mapping, after...

Gambia-Korea partnership seeks to double rice production to curb food insecurity

Gambia-Korea partnership seeks to double…

President Adama Barrow has received a delegation led by the Korean Ambassador to The Gambia, HE Kim Ji-Joon, at the State House in Banjul to announce the delivery of sample rice...

World Sustainability Organization chooses Zambia as the first African Sustainability Hub

World Sustainability Organization choose…

The World Sustainability Organization and Foundation (WSO&F) has signed a Memorandum of Understanding (MoU) with the Zambian Government, to make Zambia the African Sustainability Hub 

Rallying call to improve African and global cotton production

Rallying call to improve African and glo…

As the business of cotton production continues to attract global attention, there are concerns about how sustainable the practice of growing, harvesting, and production will be, especially for lower income...

Research and farming institution from Zimbabwe wins FAO Award

Research and farming institution from Zi…

The Food and Agriculture Organization of the United Nations (FAO) honoured three research and farming institutions, one of which was from Zimbabwe

Prev Next

OTHER RELATED ARTICLES - Agriculture

World Food Programme and Sudan hold second forum to curb post-harvest losses

World Food Programme and Sudan hold seco…

The United Nations World Food Programme (WFP) in Sudan hosted a three-day event on post-harvest losses, to explore ways of reducing food losses through approaches such as hermetic storage bags...

Cameroon and IFAD join forces to boost food security and support small-scale farmers

Cameroon and IFAD join forces to boost f…

The United Nations International Fund for Agricultural Development (IFAD) announced a US$59.9mn investment to fund the second phase of the Commodity Value Chain Development Support Project (PADFA II), which will ensure the availability...

Good Nature Agro secures funding to accelerate production of legume value chains

Good Nature Agro secures funding to acce…

Good Nature Agro, a Zambian company working from end-to-end within the specialised legume value chains, has announced the closure of Series A equity financing totalling US$ 2.1mn

Young farmers in Zimbabwe blaze a trail in agriculture

Young farmers in Zimbabwe blaze a trail …

As President Emerson Mnangagwahas adopted policies to attract the young and educated to farming, Zimbabwe's structural economic transformation is now expanded to the agricultural sector, catching the attention of young farmers

Nobel laureate explains how new technologies measurably boost farmers' productivity

Nobel laureate explains how new technolo…

Mobile technologies and digital agriculture are a great promise for the world’s farmers, making it all the more important to foster appropriate institutions capable of generating innovation that benefits smallholders...

ASPERELLO tops as effective biological control for Pythium in cucumber

ASPERELLO tops as effective biological c…

The biological fungicide ASPERELLO T34 Biocontrol is an effective control for Pythium, according to a research performed by Dr Marta Streminska, from the Wageningen University and Research Greenhouse Horticulture and...

New model to control deadly maize disease

New model to control deadly maize diseas…

As maize lethal necrosis (MLN) causes up to 90 per cent production loss, the researchers is trying to figure effective ways to combat infectious viruses causing MLN in Kenya

Tanzanian cashew farmers seek government support

Tanzanian cashew farmers seek government…

Tanzanian cashew farmers in the Tanga region have asked the government to repossess idle cashew nut processing factories and give them use of the facilities through co-operatives

Olam International acquires ADM’s cocoa business, strengthens presence in Ghana

Olam International acquires ADM’s cocoa …

Ghana’s leading agri-commodity company Olam International has completed the acquisition of Archer Daniels Midland (ADM)’s cocoa business

Seed-X and TomaTech use AI to accelerate hybrid tomatoes breeding

Seed-X and TomaTech use AI to accelerate…

Innovative agtech company Seed-X and tomato seed breeding company TomaTech have announced a new pilot of GeNee Breeder, a seed phenotype analysis system that aims to provide a real-time classification...

Zambia is required to manage adverse climate and livestock diseases to boost agricultural yield: World Bank

Zambia is required to manage adverse cli…

Zambia need to better manage agricultural risks such as drought, floods, disease and commodity price volatility to minimise losses and put agriculture on a stronger footing in the country, according...

Southern Africa receives boost in agricultural sector

Southern Africa receives boost in agricu…

The Southern African Agriculture Development Partnership Platform (SAADPP) has been launched in Zambia under the NEPAD Business Foundation (NBF) and the Agri-Business Forum (ABF)

Prev Next

Template Design © Joomla Templates | GavickPro. All rights reserved.