The Kirloskar Brothers Ltd group of India has committed to providing funding of US$10 million to increase agricultural production in Guinea-Bissau, under an agreement signed in Bissau on Tuesday.
The document, signed by the Minister of Natural Resources, Daniel Gomes and the chairman of the Indian group, Sanjai Kirloskar, outlines that the funding is intended to be channelled into rice production to ensure the population’s self-sufficiency, as well as into horticulture and fruit growing as well as collecting water for cattle troughs and training of agricultural technicians.
The Minister expressed his satisfaction that one of the largest companies in the field of hydraulics was part of this government project and stressed that once the funding arrived work would start immediately, particularly in the city of Bafatá, in the east of the country.
Kirloskar promised that if this venture was successful, his group would provide another US$30 million to finance a second phase of this project.
This agreement is part of the partnership established by the Ministry of Natural Resources for the development of programmes that are considered to be a priority.
The Kirloskar Brothers Ltd Group is an Indian conglomerate based in Pune, Maharashtra state, which exports its products, including hydraulic pumps to more than 70 countries in Africa, Southeast Asia and Europe. (macauhub/GW)