- Beninese Minister of Agriculture Fatiou Akplogan has secured a US$ 10 million loan to "boost non-farm activities" in Benin's rural areas. Some 50,000 farmers are to get access to credits and new markets in a project that aims at diversifying Benin's rural economy.
Minister Akplogan himself jetted into Rome before the weekend to arrange the last formalities at the headquarters of the International Fund for Agricultural Development (IFAD). Meeting with Lennart Båge, head of the UN agency, the two on Friday signed the loan agreement that will give the Minister access to US$ 10 million to realise the ambitious project. The Cotonou Ministry provides another US$ 4.8 million from its own funds to the project.
According to IFAD, the new development programme" will make it possible for more than 56,000 rural poor people in Benin to gain access to financial services, technology and markets, increasing their well-being and incomes. Membership in financial services associations will also increase by about 50,000."
Mr Båge praised the initiative at the signing ceremony: "This programme will benefit farmers by introducing post-harvest technologies like storage facilities that protect crops from insects and pests and by linking farmers to markets through training programmes to improve the quality of products so they will more easily find a market," stated Mr Båge.
Farmers were also learn to market their products at trade fairs, and learn new non-farm income generating activities such as setting up shops or processing products so they increase in value, Minister Akplogan and Mr Båge announced.
According to IFAD, a major focus of the programme would be to "increase access to savings and credit through the consolidation and expansion of 200 village banks" called financial services associations. A network of these associations was to be expanded to include about 100,000 shareholders by the end of 2010.
The UN agency further emphasised that special attention would be paid to women and young people "who are particularly vulnerable because of limited access to land, financial services, information and training."
During previous agricultural development programmes in Benin, IFAD had observed that "women are often more active than men in starting new businesses, and they pay back loans sooner than men." Therefore, a special focus on women would increase the sustainability of the programme.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
front page
| news
| countries
| archive
| currencies
| news alerts login
| about afrol News
| contact
| advertise
| español