MADAGASCAR: $227 million in financing for climate-smart agriculture

By - Published on / Modified on

MADAGASCAR: $227 million in financing for climate-smart agriculture ©IFAD

The World Bank and the French Development Agency (AFD) are providing Madagascar with $227 million in financing. The funding will support sustainable agriculture in the face of climate change.

The development of sustainable agriculture is one of the solutions to the climate change affecting the African continent. In Madagascar, this practice is being supported by the World Bank, which has announced funding of $227 million. The funds will be provided by the World Bank ($200 million) and the French Development Agency (AFD), which is expected to approve €25 million in July 2023.

The funding to the Malagasy government will support the development of climate-resilient agriculture in Alaotra-Mangoro and Sofia, the two main agricultural regions of Madagascar. This will involve supporting watershed restoration operations led by local communities. The Malagasy authorities also plan to finance the rehabilitation of 30,000 hectares of irrigated areas, 30,000 hectares of watersheds and 150 kilometres of rural roads to improve access to markets and thus limit post-harvest losses.

Sustainable management of natural resources

The World Bank and AFD financing is also intended to support farmers’ investments in micro-irrigation and sustainable landscape management on at least 61 000 hectares. The ultimate goal is to support 150,000 households, including 165,000 farmers, who will benefit from the deployment of input vouchers boosted by blockchain and training on climate-smart agriculture and agroecological practices.

Read also- MADAGASCAR: a solar solution to the climate crisis in the south

“The government is committed to achieving food self-sufficiency and stimulating growth and resilience in the rural sector, as outlined in the Madagascar Emergence Plan (MEP). This project is timely as it will significantly improve food production, access to productive inputs and sustainable management of natural resources on which farmers and rural livelihoods depend,” says Harifidy Ramilison, Madagascar’s Minister of Agriculture and Livestock.

Despite natural disasters, including cyclones and drought, agriculture is a key sector for the economy of the big island. Together with fishing and forestry, this sector employs four out of five people in this East African country. Moreover, agriculture represents 29% of the country’s gross domestic product (GDP) according to the International Fund for Agricultural Development (IFAD).

Jean Marie Takouleu

More on the same theme

More on the same area

We respect your privacy

When you browse on this site, cookies and other technologies collect data to enhance your experience and personalize the content you see. Visit our Privacy Policy to learn more. By clicking "Accept", you agree to this use of cookies and data.

Newsletter AFRIK 21