The World Bank Group’s Board of Executive Directors approved 80 million USD grant to support the government of Ethiopia to boost agricultural productivity and enhance market access for smallholder farmers.
The additional financing will help to address the existing challenges and is key to ensuring that Ethiopia’s agricultural sector reaches its full potential, according to a press release issued by the Bank today.
The World Bank 2019 Poverty Assessment agricultural growth was a key driver of poverty reduction over the past decade for Ethiopia, the Bank said, and noted “additional financing for the Second Agricultural Growth Project (AGPII) will further increase the economic potential of Ethiopia’s agricultural sector”.
Senior Agricultural Specialist at the World Bank, Vikas Choudhary said “AGPII has made notable contributions to poverty reduction in Ethiopia. The project has been delivering solid results on the ground, especially in increasing productivity and enhancing commercialization.”