Ifad gives MalawiK67.2bn for projects
International Fund for Agricultural Development (Ifad) and Malawi Government have signed a financing agreement of $57 million (about K60 billion) to support small-scale farmers and micro, small and medium-sized enterprises.
Minister of Foreign Affairs Nancy Tembo signed the agreement with the United Nations arm on Thursday on the sidelines of the opening of Ifad Malawi country office in Lilongwe.
In a statement released after the signing, Ifad said the funding will be channelled through its two ongoing supported programmes, namely the Programme for Rural Irrigation Development (Pride) and the Financial Access for Rural Markets, Smallholder and Enterprise Programme (Farmse).
Reads the statement in part: “The funding will enable project participants to access climate smart technologies and rural finance, increase productivity, provide market linkages and catalyse commercialisation in the agriculture sector.”
The statement quotes Ifad country director Bernadette Mukonyora as having said the funding was an opportunity for Malawi to transform its agriculture.
She said: “Despite the current situation the country finds itself in, Malawi has the opportunity to transform its agricultural sector as envisioned in its Malawi 2063, especially under pillar one, which focuses on agricultural productivity and commercialisation.
“This additional funding was made possible because Ifad invests in rural food systems that are purpose-built and respond to the current crisis.”
In an interview yesterday, Minister of Agriculture Sam Kawale welcomed Ifad’s funding towards agriculture transformation in the country.
He said the funding shows that Ifad is dedicated to investments focusing on improving the quality of life for the rural population and stimulate growth of our economy.
Said Kawale: “For over 10 years, Ifad has been investing in agriculture projects like Pride, Sustainable Agriculture Production Programme [Sapp], and recently, Transforming Agriculture through Diversification and Entrepreneurship [Trade].
“Malawi has ambitious plans to develop 220 000 hectares of irrigation by 2035 as outlined in the Irrigation Master Plan and Investment Framework.”
Pride will receive $27.7 million (K30.1 billion) to rehabilitate five irrigation schemes and establish two new ones while Farmse will receive $24 million (about K29 billion) to help connect farmers and MSMEs to rural finance.
Since 1981, Ifad and its partners have invested about $731.96 million in 14 programmes and projects benefiting more than two million rural families in Malawi.
Agriculture is the country’.
