Caroline Trimborn, the Project Coordinator of the Green Innovation Centre (GIC), a German Development agency, announced GIC’s plans to finance agricultural projects in Nigeria with 3.5 million Euros.
At the Agricultural Production and Processing Economics Training organised for journalists in Abuja, Trimborn said that the project will commence in November 2018 and is expected to be extended to a total budget of 17 million Euros until 2022. GIC will work with commercial banks to provide loans for smallholder farmers. However, the collateral requirements will be determined by the banks.
Trimborn, who noted that the GIC has been working in partnership with the government in seven states across the country, said the initiative will improve the livelihood of farmers through improved agricultural technologies.
The team leader of GIC Nigeria, Baba Ashmara, also noted that the Agency has been working with the Federal Ministry of Agriculture and Rural Development to improve the livelihood of smallholder farmers through strengthened linkages along the maize, rice, cassava, and Irish potatoes value chain.
Ashmara revealed that the project has built the capacity of no fewer than 450 extension agents and equipped them with working tools to enable them assist smallholder farmers to adopt good agricultural practices.
GIC, which is currently active in 14 countries, coordinates activities with local ministries and cooperates with programmes under the special initiative- “One World, No Hunger”, as well as the bilateral German development cooperation programmes.