Agriculture

AfDB Boost Farmers Access To Fertilizers With $2.9m In Uganda

The African Development Bank (AfDB) Board of Directors of Group has endorsed a project to provide 60,000 metric tons of fertiliser to 400,000 smallholder farmers in Uganda.

BrandNewsDay understands that the African Bank made this known via a statement issued on its website on Sunday, adding that the $2.9m support would be done under the Fertiliser Financing for Sustainable Agriculture Management project.

The statement reads: “Africa Fertilizer Financing Mechanism will provide two million dollars in partial trade credit guarantees and a grant of 877,842 million dollars to the African Fertiliser and Agribusiness Partnership.

Advertisement

“Over a three-year duration, the project will support two wholesalers to sell fertiliser with a value of up to fifteen times the value of the two million dollar partial trade credit guarantee.

“It will also link wholesalers to around twenty-five hub agro-dealers and 125 retail agro-dealers who will on-sell the fertiliser to farmers.”

The bank said the credit facility would reduce the risks associated with suppliers lending fertilisers to wholesalers on credit.

Advertisement

The AfDB statement reiterated that the project was expected to boost yields and provide training to 3.4 per cent of targeted farmers with 40 per cent of them women.

It further stated they would be using improved seeds, balanced crop nutrition and best farming practices.

Meanwhile, Marie-Claire Kalihangabo, Coordinator of, the Africa Fertiliser Financing Mechanism, said in Uganda that the fertiliser consumption was about 2.5 kg/ha.

Advertisement

According to Kalihangabo, the project will help to make fertiliser more accessible and appropriately used by farmers.

She expressed delight as it would in turn boost agricultural productivity and help to improve food security in the country.

“The project will advance the Bank’s Feed Africa Strategy by increasing food productivity and security.

Advertisement

“It builds on the results of the Sustain Africa Initiative, the Bank’s Country Strategy Paper for Uganda 2023–2026.

“The project was approved on Sept. 22,” she said.

Facebook Comments
Advertisement
Adebayo

Adebayo is a Content Developer and website manager who loves to learn, unlearn and relearn. He has a knack for exploring the tech world. He is always thirsty to learn as the tech ecosystem evolves every day.

Recent Posts

Meta To Pay Content Creators For In-Stream Ads, Facebook Reels Ads Across Nigeria, Ghana

Meta has announced the availability of two new monetization features for eligible creators in Ghana…

3 days ago

PZ Cussons Losses N96.4bn To Negative Equity In The Fiscal Year

PZ Cussons Nigeria, a consumer goods company, reported a substantial net loss of N96.4 billion…

3 days ago

Stanbic IBTC To Host Bloom Weekend

Stanbic IBTC Holdings has announced the date for its annual women’s event tagged ‘Bloom Weekend’,…

3 days ago

Stanbic IBTC Bank Nigeria PMI®: New Order Growth At Seven-month Low In June

Stanbic IBTC Bank Nigeria PMI® - June data signalled a broad stagnation of the Nigerian…

3 days ago

Stanbic IBTC Bank Hosts Home Ownership Summit

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a foremost financial institution in…

3 days ago

The Problem With The EFCC

The problem with the EFCC  - In every government or institution, there is a corresponding…

1 week ago

This website uses cookies.