Namibia’s Agricultural Mechanisation and Seed Improvement Project (NAMSIP) will directly benefit 294,500 crop farmers and 10,000 livestock farmers, following the approval of funding from the the African Development Bank Group (AfDB).
Namibia through NAMSIP clinched a 74 million U.S. dollars (1 billion Namibian dollars) loan from the AfDB, which was approved by the AfDB Board, on Monday in Abidjan.
In a statement on Tuesday, the Bank said the project aims to enhance agricultural productivity in order to reduce annual importation of staple cereal grain, facilitate job creation, and enhance household incomes which will improve the lives of rural people in Namibia.
The AfDB said the project’s two key components comprise value chain improvement, and institutional support through capacity building, and project management. The project will be implemented by Namibia’s Ministry of Agriculture, Water and Forestry over a period of five years, in all 14 Administrative Regions of Namibia.
“In addition, the project will fully support 111 smallholder farmer cooperatives, and indirectly benefit about 800,000 people along the cereal crops and livestock value chains,” the Bank added.
The project is aligned to the Bank’s High-5 priorities of Feed Africa and the loan to Namibia will finance 70.5 percent of the total project cost while the Government and beneficiaries will contribute the remaining 25.5 percent and 4 percent respectively. Enditem