WB boosts Guinea-Bissau's agricultural sector

THE World Bank Board of Executive Directors has approved US$8.2 million credit from the International Development Association (IDA) to help Guinea-Bissau expand its cashew agribusiness, increase rice production and support entrepreneurship in other sectors of the economy toward creating jobs and combating food insecurity and poverty.

Today’s IDA credit supports the Private Sector Rehabilitation and Agribusiness Development Project. It aims to boost economic growth whilst enhancing shared prosperity.

Cashew is Guinea-Bissau’s most important agricultural product and is grown by close to 55% of all farming households. Pilot programmes under the new project will help increase productivity and improve cashew production practices amongst farmers. They will also support new local storage facilities to strengthen the bargaining power of cashew producers.

Meanwhile, boosting rice production with activities such as providing inputs to increase yield will help diversify the country’s agricultural sector, consequently improving food security and reducing poverty.