The World Bank Tuesday approved 450 million U.S. dollars in credits to help Nigeria fight against rural poverty.
FADAMA III and the Community and Social Development project, both a follow-up of the highly successful FADAMA II, Local Empowerment and Environment Management Project (LEEMP), and Community-based Poverty Reduction Project (CPRP), will receive 250million and 200 million dollars respectively.
FADAMA III will support provision of economic and productive goods and activities in rural areas in the 36 states of the federation plus the Federal Capital territory (FCT).
The project is to focus on increasing the incomes of the users of rural and water resources on a sustainable basis. By increasing the incomes of the rural poor, the project will help reduce rural poverty, increase food security, and contribute to the achievement of a key Millennium Development Goal (MDG).
All states in the country are eligible to participate in CSDP which will support provision of social services and natural resource management.
Task team leader for Fadama III, Simeon Ehui said, "We will build on the success of Fadama II and contribute towards the non-oil growth and rural poverty reduction in Nigeria in Nigeria. We are happy to be partners in the fight against poverty in Nigeria."
The two projects are expected to commence implementation before the end of the year 2008.
Source:Xinhua
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