African Development Bank Approves $2.25 Million to Boost Up Agricultural Productivity in Sierra Leone

$1.5 Million Credit Guarantee and $700,000 Grant to Enhance Fertilizer Access for Over 126,000 Smallholder Farmers In a move set to boost Sierra Leone’s food security and crop yields, the African Development Bank Group’s Board of Directors has approved a $2.25 million financing package for the Fostering Africa’s Agricultural Productivity through Fertilizer Value Chain Financing (FOSTER) project. Implemented by Welthungerhilfe, the initiative will help thousands of smallholder farmers gain access to quality fertilizers through innovative credit and guarantee schemes, unlocking private investment and strengthening the country’s fertilizer value chain. The package comprises a $1.5 million Partial Credit Guarantee from the Africa Fertilizer Financing Mechanism (AFFM), a $700,000 grant for soil health management, and $50,000 in-kind support from Welthungerhilfe. Together, these resources are expected to mobilize around $9 million in private financin...