FENASCOVICI grant signing

FENACOVICI signs Grant Agreement with the AFT

Date: Friday, November 29, 2013
The Fédération Nationale des Coopératives de Vivriers de Côte d'Ivoire, an nation-wide food producers association, has signed a grant agreement with the AFT to support preparation activities ahead of its planned investment of nearly US$ 11 million.

Abidjan, November 29, 2013: The Fédération Nationale des Coopératives de Vivriers de Côte d'Ivoire (FENASCOVICI – the National Federation of Food Production Cooperatives of the Cote d’Ivoire) signed its grant agreement with the AFT for a US$551,990 grant to support preparation of its proposed US$10,818,817 investment. The investment will:

  • Increase food production through the implementation of drip irrigation systems and the use of certified seeds that will lead smallholder agricultural yield increases of 60%;
  • Build storage and processing infrastructure (6 warehouses, 3 rice milling plants, 4 cassava processing plants); and
  • Purchase related irrigation infrastructure, agricultural equipment, tractors, and trucks.

The investment will benefit tens of thousands of smallholder producers (90% women) across 31 regions. The AFT grant will be used to prepare the investment for obtaining financing, including:

  • An environmental and social impact assessment
  • Technical design studies for proposed facilities
  • Preparation of a business plan and related financial projections