16,000 small scale farmers to benefits from IFAD’s project in Montenegro

The International Fund for Agricultural Development (IFAD) and Montenegro has signed a financial agreement to launch a project to transform the lives of over 16,000 smallholder farmers. A statement on the agency’s website reveals.

The project tagged “Rural Clustering and Transformation” (RCTP) project will be the first that IFAD has supported since Montenegro became a Fund member in 2015.

The agreement was signed by the President of IFAD Gilbert F. Houngbo, and the Minister of Finance of Montenegro, Darko Radunovic.

According to the statement, “The aim of the new project is to help farmers become more competitive economically and resilient to the effects of climate change. In addition to financing, poor rural people need experience, skills and knowledge management which will be the focus of IFAD’s intervention” .

“The total cost of the project is Euro 13.61 million, of which IFAD is providing a Euro 3.88 million loan and a Euro 1.88 million grant under its adaptation for Smallholder Agriculture Programme (ASAP). Other cofinanciers are: the Government of Montenegro (Euro 4.3 million), the beneficiaries themselves (Euro 1.33 million) and participating small and medium enterprises (Eur 0.6 million)” it added

Commenting on the agreement, IFAD’s Country Programme Manager for Montenegro Annabelle Lhommeau noted that transformation of rural areas and providing new opportunities is crucial to addressing inequality and migration.

“Small farms are important to Montenegro and the project will help them increase productivity and adapt to climate change.” He added.

The project will focus on rural areas in the northern mountainous region, where farmland is mostly over 600 metres above sea level. Berane, Bijelo Polje, Mojkovac, Niksic, Petnijica, Svnick and Zabljak are the counties that will initially be involved.


Culled from: https://agronigeria.com.ng/16000-smallholder-farmers-benefit-ifads-project-montenegro/

You may also like

Leave a comment