IFAD loan to enhance food security in Azerbaijan
BAKU – The International Fund for Agricultural Development (IFAD) has announced that a US$19.35 million loan will be provided to Azerbaijan to increase food security and enhance income-raising opportunities.
The loan agreement for the Integrated Rural Development Project was signed on Tuesday in Rome by Ismat Abasov, Minister for Agriculture of Azerbaijan and Kanayo Nwanze, President of IFAD.
The project aims to support increased agricultural productivity, enhanced incomes and food security, to reach more than 50,000 households in the districts of Agdash, Yevlakh, Sheki and Oguz. The districts in the lowland areas in particular will benefit from improved irrigation water delivery.
IFAD’s project will target the rural poor to improve their skills and use available natural resources more effectively to improve sustainable productivity and profitability for crop and livestock husbandry. In addition, IFAD aims to improve the incomes of women and men producers through better farm management and access to credit.
With this new project, IFAD will have financed five programmes and projects in Azerbaijan for a total investment of $87 million.
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