LAGOS, Nov. 24 (Xinhua) -- The African Development Bank (AfDB) said on Thursday it has approved a 5.12-million-U.S. dollar funding to fund the emergency food production program in Liberia.
AfDB said in a statement on Thursday the funding, including a grant of 2.28 million dollars and a loan of 2.84 million dollars, will fund the Emergency Food Production Program in Liberia, which is part of sector budget support under the AfDB's African Emergency Food Production Facility (AEFPF).
"We welcome this timely and highly anticipated approval, which will improve food and nutrition security in Liberia and the regulatory environment for climate-smart agriculture," said Benedict Kanu, the AfDB country manager for Liberia, in the statement.
The AEFPF has so far benefitted 26 countries in Africa with 26 programs worth 1.257 billion dollars.
The Liberia food production program, which will be implemented from 2022 to 2024, will enable the government to provide direct smart subsidies to vulnerable farmers. The financing will also enable the government to facilitate farmers' access to improved seeds and fertilizers. ■