The Diplomat
The Council of Ministers has authorized this Tuesday the granting of a loan of 92 million euros to the State of Ceará, of the Federative Republic of Brazil, for the financing of a project to reduce hunger and rural poverty.
The loan, charged to the Fund for the Promotion of Development (FONPRODE), will be used to finance the Project for the Development of Capacities to Overcome Hunger and Mitigate the Effects of Poverty and Extreme Rural Poverty, better known as the Paulo Freire II Project.
The objective of the project is to reduce rural poverty, food insecurity and malnutrition in family farming, with a specific development objective of increasing the sustainability of production systems and the resilience of family farmers. The project – with a budget of 139 million euros and involving the International Fund for Agricultural Development (IFAD), FONPRODE, the State of Ceará and the beneficiaries through in-kind contributions – will be developed in 74 municipalities in the semi-arid region of the State of Ceará, with greater climatic vulnerability.
In addition, the Council of Ministers has authorized the payment of up to 445,000 US dollars to IFAD, also charged to FONPRODE, for the preparation and supervision of the aforementioned Paulo Freire II Project.
