They will benefit from a US $ 72.4 million program to improve food and nutrition security and the incomes of smallholder farmers and pastoralists.
The financing agreement of the Program for Agricultural Development and Rural Entrepreneurship - Phase II (PADAER-II) signed by correspondence between Gilbert F. Houngbo, President of IFAD, and Amadou Ba, Minister of Finance of Senegal aims to reduce the poverty of households in the beneficiary regions.
IFAD's contribution to the program is estimated $ 46.3 million (loan) and $ 500 000 (in form of a grant). The remaining funding will be provided by the OPEC Fund for International Development ($ 10 million grant), the Senegalese Government ($ 9.5 million), local communities and beneficiaries ($ 6.1 million).
Senegal's agricultural sector is extremely vulnerable to climate change. This situation increases the vulnerability of poor rural people who derive their food and livelihoods from small-scale agriculture.
The program will develop the production and marketing of rice, maize, fonio and small ruminants, and will contribute to improving poultry farming. In addition to these main agricultural sectors, it will support complementary products such as millet, sorghum, rice and banana.
The program will improve hydro-agricultural systems, pastoral infrastructure and markets. It will also provide training to producer organizations to enable them to provide sustainable services to their members.
PADAER-II will help producers access credit and improve their knowledge of financial services, as well as strengthen the weather-indexed insurance program developed during PADAER-I.
PADAER-II aims to create permanent and well-paying jobs for rural people living in the program area and to ensure that at least 50% of program participants are women and the remaining 50%, young people.
Since 1981, IFAD participated in the financing of 17 rural development programs and projects in Senegal, investing $ 269.1 million out of a total cost of $ 514.2 million. Nearly 500.000 rural households benefit from these programs and projects.