NIRSAL, MECA Sign Agreement With World Bank’s FADAMA 3
BARBARA BAKO, Abuja.
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), along with its technical partner on agricultural mechanization – Machines and Equipment Corporation Africa (MECA) have signed an agreement with the World Bank’s FADAMA III-AF programme for the management of its Agricultural Infrastructure. Accordingly, FADAMA III-AF has entrusted its Agricultural Infrastructure, which includes mechanization equipment, irrigation systems, and storage facilities in the hands of NIRSAL and MECA.
The partnership is part of initiatives targeted at achieving sustainability and continuity of FADAMA III projects and infrastructure as the World Bank project approaches its official closing date of December 2019. Speaking at the signing ceremony, Managing Director/CEO of NIRSAL, Mr. Aliyu Abdulhameed appreciated FADAMA’s recognition of NIRSAL as a trustworthy and capable partner that would continue with the developmental activities FADAMA has embarked on in Nigeria. According to Abdulhameed; “As FADAMA has done, so too will NIRSAL continue to support the growth and expansion of the Agricultural Value Chain as its mandate requires.
“At NIRSAL, we recognize that when it comes to Agriculture, there is an opportunity to positively impact millions of livelihoods. What you have witnessed here today is another example of how we are utilising these opportunities to better the lives of smallholder farmers across the nation.” Abdulhameed assured farmers under the FADAMA Federated Community Associations (FFCAs) that NIRSAL would continue to support them even beyond the provision of mechanization services.
He said, “NIRSAL was created to facilitate finance to all value chain actors, yourselves included. With the winding down of FADAMA, you can rest assured that NIRSAL will deploy its resources to ensure continuity in the support, development, and growth of your agricultural activities.”
Abdulhameed informed attendees that the program is an all-encompassing, commercially driven scheme designed to significantly contribute to the Agricultural mechanization value chain through increased access to tractor and land clearing services at affordable rates for smallholder farmers and, in line with the Buhari Administration’s drive, to enhance National Food Security. Abdulhameed concluded by calling on the Central Bank of Nigeria – which wholly owns NIRSAL, to continue its critical interventions in Agribusiness sector, and for the World Bank to keep supporting agricultural programs in Nigeria as they have done with FADAMA III-AF which has been in existence for over two decades.
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