19 November 2012

Gambia Is a Heavily Indebted Low Income Country,

Information emanating from the International Fund for Agricultural Development (IFAD) has it that Gambia is classified as one of the World's most heavily indebted low income countries and as such, is qualified for grant funding under IFAD's Debt Sustainability Framework.

According to IFAD, the framework is part of a unified effort by the world's biggest multi-lateral financial institutions to ensure that essential financial assistance does not cause undue hardship for the countries that are most in need.

The information went on to revealed that IFAD intervention in the Gambia focuses on agriculture and rural development, while facilitating and promoting access to microfinance thus the financing of nine programmes and projects in the Gambia.

According to information IFAD has initiated five projects, the World Bank's International Development Association two and the African Development Bank (AfDB) two. It further stated that seven of the programmes and projects have been co-financed by the World Bank and the African Development Bank (AfDB).

Out of the nine programmes and projects financed by IFAD, six are completed and three are ongoing.

According to IFAD, the completed ones are the Rural Finance and Community Initiative Project, the Lowland Agricultural Development Programme, Agricultural Services Project, Small-Scale Water Control

Project, Agricultural Development Project II and the Jahally and Pacharr Smallholder Project.

The ongoing ones however are the Livestock and Horticultural Development Project, Rural Finance Project and the Participatory Integrated Watershed Management Project.

Farmers' Eye will report on the total cost of each of the projects, their durations as well as conduct a social audit of the impact of each of them in the drive to ensure food security in the Gambia.

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