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The International Fund for Agricultural Development (IFAD) is to provide about $150 million (about €134 million) for agriculture in Mozambique.
“The approval of the amount was due to good management of the funds hitherto granted by IFAD,” the institution said, cited on Monday by the “Notícias” daily newspaper.
The fund said that the management of the funds has had an excellent impact in the country, and, with this new amount, the support will be for the Agricultural Development: Inclusive Agrifood Value Chain Development Programme” [PROCAVA], developed by the government and which prioritises production in rural areas.
IFAD began operations in Mozambique in 1983 and has provided at least $400 million (€359 million) in just over 10 programmes, according to official data.
IFAD’s investment goal is to provide small producers with technologies and production resources, as well as adequate financial services to ensure business sustainability in rural areas.Source: Lusa
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