World bank approves 0m for Nigeria

World bank approves $700m for Nigeria

Daily Nigerian 

The World Bank has approved a 700 million dollar credit from its International Development Association, IDA, for the Nigeria Agro-Climatic Resilience in Semi-Arid Landscapes, ACReSAL, Project.

It said this in a statement issued in Washington on Thursday.

According to it, the project will increase the implementation of sustainable landscape management practices in northern Nigeria and strengthen the country’s long-term enabling environment for integrated climate-resilient landscape management.

It said that the productivity of major crops in Nigeria had been steadily declining over the past two decades, due partly to climate change, forcing an expansion of the area under agriculture and increased imports to meet the food needs of Nigeria’s growing population.

It added that persistent water shortages, especially in the extreme north, continue to exacerbate land degradation, desertification and habitat loss.

“Resource shortages, violent conflict, outdated agricultural systems not adapted to changing dryland conditions, lack of access to finance, weak value chain linkages, an uncompetitive environment for agribusiness, and poor market access are other key barriers to increased agricultural productivity in Nigeria…

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