10,000 Cocoa farmers in Liberia set to benefit from USD 47.6 Million project
About 10,000 cocoa smallholder producers in Liberia will benefit from a new $47.6 million project that aims to improve their food and nutrition security and raise their incomes by modernizing cocoa farming, increasing production and developing markets.
The financing agreement for the Tree Crops Extension Project II (TCEP II) was signed by correspondence by Gilbert F. Houngbo, President of IFAD and Samuel D. Tweah, Jr., Minister of Finance and Development Planning of the Republic of Liberia.
Project financing includes a $11.9 million loan and $11.9 million grant from IFAD. The project will be cofinanced by the private sector ($3.4 million), the Government of Liberia ($2.5 million) and the beneficiaries themselves ($1.8 million). IFAD is working to fill the financing gap of $16.2 million with climate financing and additional co-financing for rural roads in the project area.
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