The International Fund for Agricultural Development (IFAD) has provided US$25 million to São Tomé and Principe to finance the agriculture, fisheries and rural development sectors, the local media reported recently.
IFAD representative Bernard Hein said that the organisation intends to triple the funds available to the Small Business Agriculture Support Project (PAPAC) and added that the amount granted is intended to consolidate the results already achieved in terms of cocoa production and support to the production of pepper and coffee cooperatives.
The Minister of Agriculture, Fisheries and Rural Development, Francisco Ramos, said the ministry intends to “gradually reduce imports,” to replace them “with local products and expand the production base by increasing and diversifying agricultural production, livestock and fisheries.”
The coordination meeting held in São Tomé comes under the “Fome Zero” (Zero Hunger) strategic review and the National Investment Plan for Food and Nutrition Security of the government of Prime Minister Jorge Bom Jesus.
IFAD was created in 1977, with headquarters in Rome, with the mission of making poor rural populations in developing countries overcome poverty. (Macauhub)