The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has signed a Memorandum of Agreement and Action (MoA) with Agro-Processing, Productivity Enhancement and Livelihood Improvement Support (APPEALS).
APPEALS is a $200million World Bank-funded project for the development, financing, and support of de-risked and optimized agribusiness projects.
According to the partners, the project, which is to be deployed in Cross River, Enugu, Lagos, Kogi, Kaduna, and Kano States, targets 60,000 beneficiaries, and 360,000 farm household members as indirect beneficiaries.
It is anticipated that 35 percent of direct beneficiaries (or 21,000 individuals) would be women. Additionally, the project has a dedicated sub-component to benefit women and youth that would allow them to develop agri-businesses that are expected to create jobs and improve their livelihoods.
According to NIRSAL, in line with the project development objective of APPEALS, NIRSAL would layer its Tools, Techniques, Methodologies and strategic Partnerships (TTMPs) according to its Mapping to Markets (M2M) strategy on the project, with the shared aim of enhancing agricultural productivity of small and medium scale farmers and improvement of value addition along the cassava, cashew, rice, poultry, aquaculture, cocoa, wheat, tomatoes, maize, ginger and dairy value chains in a sustainable manner.