Senegal’s results-oriented Agriculture and Livestock Competitiveness Program has been given a boost of 90 billion CFA francs by the World Bank.
The World Bank’s Board of Executive Directors approved a 150 million dollar (90 billion CFA francs) credit from the International Development Association (IDA) to improve the competitiveness of Senegal’s agriculture and livestock.
The funds will help increase exports of high value-added crops such as shelled peanuts and horticultural products, as well as the proWductivity 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 the productivity of agriculture and livestock while ensuring resilient production practices and improving the incomes of farmers and ranchers, ”said Nathan Belete, director of operations for the Bank in Senegal.
The program will help small producers and ranchers to 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 Program to accelerate the pace of agriculture (PRACAS II) and the National Plan for the Development of Livestock (PNDE).