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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

World Bank approves US $250 million credit for Kenya agriculture

NAIROBI (Xinhua) -- The World Bank has approved a 250 million U.S. dollars credit to finance agricultural productivity and help smallholder farmers and pastoral communities build resilience to climate change.

A statement from the World Bank released on Monday evening that the project aims to increase agricultural productivity and build resilience to climate change risks in the targeted smallholder farming and pastoral communities in Kenya.

"The aspects of this project include upscaling climate smart agricultural practices, strengthening climate-smart agricultural research and seed systems and supporting agro-weather, market, climate, and advisory services," the WB said.

"The finances will, among others, support the development of agro-weather forecasting and marketing information system and dissemination tools in Kenya," it said.

According to the lender, the Kenya Climate Smart Agriculture Project aims at improving agro-meteorological forecasting and monitoring; using big data to develop a climate-smart, agro-weather and market information system and advisories,.

The project also aims at building institutional and technical capacity for agro-meteorological observation and forecasting, agricultural statistics collection and analyses, and market advisory services.

The World Bank said finances will be deployed to fund eligible expenditures under the Immediate Response Mechanism in case of natural or man-made crises or disasters, severe economic shocks, or other crises and emergencies in Kenya.

The money will also be used to finance activities related to national and county-level project coordination and management, including developing annual work plans and budgets and fiduciary aspects (financial management).

           

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