Senegal’s Agricultural Bank receives first climate funding disbursement
By the AFREEQUE newsroom, based on APS
La Banque agricole du Sénégal has received its first disbursement from the Green Climate Fund to fund agricultural practices adapted to climate change. The project combines a credit line with a technical assistance grant, according to a statement from the Senegalese bank.
La Banque agricole du Sénégal (LBA) has received its first disbursement from the Green Climate Fund (GCF) to fund the promotion of agricultural practices adapted to climate change, the institution said in a statement published on 21 October.
The funding consists of a credit line linked to a grant to support the technical assistance needed for the project. LBA says it aims to facilitate investment in sustainable and resilient agricultural practices, as well as contribute to adapting to the effects of climate change and reducing greenhouse gas emissions.
The bank says the first payment follows several stages of preparation and development carried out by its teams. The Green Climate Fund is a financial mechanism established by the United Nations.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
