LILONGWE-(MaraviPost)-Malawi has secured US$38 million from International Fund for Agricultural Development (IFAD) towards improving on agriculture programmes.

Minister of Finance Simplex Chithyola Banda confirmed the development to The Maravi Post on Thursday morning that the funds will help locals farmers on various agricultural practices for production.

“Malawi continues to stand as a blessed nation under the visionary and forward-thinking of State President Dr. Lazarus McCarthy Chakwera as the developing country has roped in another International Fund for Agricultural Development (IFAD) with US$38 million approval under IFAD 13”, lauds Chithyola Banda.

According to IFAD communication, the funds are meant to promote sustainable agricultural practices and integrate the private sector and smallholder farmers in value development with a focus on two groups; poor smallholder farmers located in areas with medium to high potential to achieve economic independence; and marginal farmers and vulnerable households through intensification of production, enhancement of natural resources management and improvement of access to profitable markets;securing and diversifying the livelihoods through supporting effective use of limited resources and promoting non-farm employment opportunities; strengthening local institutions and resources at community and household levels.

Priority areas for IFAD advocacy include market-led agricultural growth to reduce poverty, incentive frameworks for agriculture and the need for consistency in policy implementation, especially at the grass-roots level, to foster the emergence of private-sector operators and farmers’ organisations.