New project to reduce poverty and stimulate economic growth in post-crisis zones of the country

Rome, 21 November 2014 – The Government of the Republic of Côte d'Ivoire and the International Fund for Agricultural Development (IFAD) signed an agreement today to finance a project that aims to improve food security in six regions in the west by increasing smallholder farmers' access to services, technologies and markets while strengthening the resilience of their production systems to climate change.

The Support to Agricultural Production and Marketing Project – Extension West (PROPACOM – extension west) will operate in the regions of Bafing, Béré, Folon, Kabadougou, Tonpki and Worodougou. IFAD's loan of US$17.45 million is supplemented by two grants, one for $17.45 million plus an additional $7 million from IFAD's Adaptation for Smallholder Agriculture Programme.

With a total cost of $59.7 million, the project will also benefit from $10 million in co-financing from the OPEC Fund for International Development, $5.33 million from the Government of Côte d'Ivoire and $2.49 million from the beneficiaries themselves.

The financing agreement was signed in Rome by Janine Tagliante Saracino, Ambassador of the Republic of Côte d'Ivoire to Italy and Permanent Representative to the Rome-based UN Organizations, and by Kanayo F. Nwanze, President of IFAD.

PROPACOM – extension west will complement the ongoing PROPACOM project which began implementation in the centre-north, north and northeast of the country in May 2013. It will focus on increasing agricultural productivity of rice, maize, cassava and vegetable value chains. It will also expand and improve the smallholder farmers' access to rural finance services.

PROPACOM – extension west will target 240,000 smallholders, particularly women and young people who are involved in food production, processing and marketing, to enhance their incomes and improve their livelihoods. The project will be implemented under the leadership of the Ministry of Agriculture of Côte d'Ivoire.

Since 1984, IFAD has invested a total of $141.1 million in 10 programmes and projects in Côte d'Ivoire, amounting to more than $340 million when co-financing is included. It is estimated that 673,000 Ivorian rural households have benefitted from these investments.

 

Notes to Editors
Abdoul Barry, Country Programme Manager for Côte d'Ivoire will be available for interviews in person or by phone.

---

Press release No.: IFAD/73/2014

IFAD invests in rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since 1978, we have provided about US$15.8 billion in grants and low-interest loans to projects that have reached some 430 million people. IFAD is an international financial institution and a specialized United Nations agency based in Rome – the UN's food and agriculture hub