The Council of Ministers yesterday approved a loan of 15 million euros to the Republic of Niger to finance a project to develop and improve irrigation systems.
The aim of the loan, from the Fund for the Promotion of Development (FONPRODE) and with a repayment term of 38 years and a fixed interest rate of 0.75 per annum, is to benefit 14,000 families and condition an area of at least 5,900 hectares for irrigation by financing the Project to support the irrigation initiative in the Sahel in Niger.
This project aims to improve the development and management capacity of the Niger’s Ministry of Agriculture and Livestock, public institutions and farmers in irrigation systems and to increase irrigation areas.
The project has a total estimated cost of 38.9 million euros and will be co-financed by the Inter-American Development Bank, which will contribute 21 million euros, and FONPRODE, which will contribute 15 million euros. The State of Niger, equivalent to 0.29 million euros, and the beneficiaries, equivalent to 3.2 million euros, will also contribute to its financing.
Niger is one of the Least Advanced Association Countries in the Spanish Cooperation policy, according to the V Master Plan 2018-2021 and the Framework of Partnership Country with Niger signed in 2014. The proposed operation contributes to the achievement of Sustainable Development Goal 2 Zero Hunger of 2030 Agenda for Sustainable Development.
In addition, the Government in office yesterday authorized the payment of a commission of up to 1,067,686 US dollars to the World Bank, charged to FONPRODE, for the preparation and supervision of the aforementioned project to support the irrigation initiative in the Sahel.