{"id":1258,"date":"2024-11-07T12:24:14","date_gmt":"2024-11-07T12:24:14","guid":{"rendered":"https:\/\/vindicatorslnews.com\/?p=1258"},"modified":"2024-11-07T12:24:17","modified_gmt":"2024-11-07T12:24:17","slug":"imf-105-5m-support-to-livestock-project-aims-to-strengthen-sierra-leones-agriculture","status":"publish","type":"post","link":"https:\/\/vindicatorslnews.com\/?p=1258","title":{"rendered":"IMF $105.5M Support to Livestock Project Aims to Strengthen Sierra Leone’s Agriculture"},"content":{"rendered":"\n
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As part of its continued efforts to advance the Feed Salone Agenda<\/strong>, the Government of Sierra Leone has successfully mobilized over $100 million<\/strong> to support livestock development in the country. This significant milestone was announced during the signing ceremony<\/strong> of the financing agreement for the Livestock and Livelihoods Development Project (LLDP)<\/strong>, which took place on Wednesday, November 6th, 2024<\/strong>, at the Ministry of Finance Conference Hall<\/strong> in Freetown.<\/p>\n\n\n\n

The agreement was signed between the Government of Sierra Leone<\/strong>, represented by the Ministries of Finance<\/strong> and Agriculture and Food Security<\/strong>, and the International Fund for Agricultural Development (IFAD)<\/strong>, marking a crucial step towards improving Sierra Leone’s agricultural and food security landscape.<\/p>\n\n\n\n

In his statement, Bernard Hien<\/strong>, Regional Director of IFAD, commended President Julius Maada Bio<\/strong> for his visionary leadership and unwavering commitment to feeding Sierra Leone through the Feed Salone Initiative<\/strong>. He described the signing ceremony as a milestone<\/strong> in advancing the country\u2019s food security, reducing poverty, and building resilience in Sierra Leone\u2019s rural communities.<\/p>\n\n\n\n

Hien noted that the Livestock and Livelihoods Development Project<\/strong> would play a pivotal role in addressing Sierra Leone\u2019s food security challenges by improving local livestock production, which is essential to reducing the nation\u2019s heavy reliance on imported livestock products. He highlighted that Sierra Leone is a net importer<\/strong> of livestock products, with 60% of poultry<\/strong>, 50% of eggs<\/strong>, and 90% of pork<\/strong> being imported. The LLDP aims to reverse this trend by increasing domestic production, thereby reducing imports and enhancing local supply.<\/p>\n\n\n\n

Despite the significant potential of the livestock sector, it has historically received limited public investment. According to Hien, the livestock sector accounts for only around 2% of Sierra Leone\u2019s agricultural expenditure<\/strong>, with a mere 0.12%<\/strong> of this share allocated to the livestock subsector. The LLDP seeks to address this underinvestment by providing much-needed support to the sector, including technical assistance, infrastructure development, and capacity-building for farmers.<\/p>\n\n\n\n

The project is expected to reach over 62,000 households<\/strong> and directly benefit 373,000 individuals<\/strong> over the next eight years<\/strong>. The project will adopt a gender-transformative<\/strong> and youth-sensitive<\/strong> approach, ensuring that at least 40% of the beneficiaries are women<\/strong> and 30% are youth<\/strong>, including persons with disabilities.<\/p>\n\n\n\n

The Deputy Minister of Agriculture and Food Security<\/strong>, Dr. Theresa Tenneh Dick<\/strong>, expressed her sincere gratitude to IFAD for their support in launching the Livestock and Livelihoods Development Project. She described the project as a flagship initiative<\/strong> for the country\u2019s livestock sector, which will contribute to Sierra Leone\u2019s economic growth<\/strong> and enhance the livelihoods of farmers, particularly women and youth in rural areas.<\/p>\n\n\n\n

Dr. Dick emphasized that the project will not only improve the nutritional status<\/strong> of communities but also increase income levels<\/strong> for many families, especially those in rural areas. She stressed that the project would make a significant contribution to achieving Sierra Leone\u2019s broader agricultural and economic goals, including food security<\/strong>, poverty reduction<\/strong>, and the creation of sustainable jobs<\/strong> for the growing population.<\/p>\n\n\n\n

The Livestock and Livelihoods Development Project is valued at approximately $105.5 million<\/strong>, with funding contributions from various international and national partners. These include:<\/p>\n\n\n\n