The World Bank has approved a 500 million dollar credit facility for Nigeria to support smallholder farmers under the Nigeria Sustainable Agricultural Value-Chains for Growth project, known as AGROW. The funding, provided through the International Development Association, was announced in a statement published on April 2.
The bank says the initiative aims to boost productivity, strengthen agricultural value chains and create jobs, particularly for smallholder farmers facing challenges such as low yields, poor access to inputs and climate shocks.
According to the World Bank, the project will support agribusinesses through a results-based matching grant scheme, focusing on key crops including rice, maize, cassava and soybeans, while also improving market access and post-harvest handling.
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The six-year programme, expected to run from 2026 to 2032, is projected to benefit up to one million farmers and attract an additional 220 million dollars in private investment, while enhancing food security and climate resilience.
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