IFAD provides $37.1 million for agricultural jobs in Benin
By the AFREEQUE newsroom, based on La Nouvelle Tribune
The International Fund for Agricultural Development and the Beninese government have concluded a $37.1 million funding agreement to support rural young people’s employment and agricultural entrepreneurship. The eight-year project, with a total budget of $149.1 million, aims to create around 21,000 jobs by 2033, according to La Nouvelle Tribune.
The International Fund for Agricultural Development (IFAD) and the Beninese government concluded a funding agreement worth $37.1 million for the Project to Support Youth Employment and Agricultural Entrepreneurship (ProPEA) on 26 October in Cotonou, according to La Nouvelle Tribune.
The eight-year programme has a total budget of $149.1 million, also funded by the Beninese state, development partners, the private sector and participants. It is to combine training, start-up support, advice, financing and insurance in high-potential agricultural sectors. Young people are expected to make up 60% of participants, and the project aims to create around 21,000 jobs by 2033.
IFAD has supported 15 projects and programmes in Benin since 1978, for a total of $729.6 million. In 2018, it committed €89.5 million to a project focused on agricultural development and market access, according to La Nouvelle Tribune.
