Lebanon Businessnews News
 

IFAD launches program to fight water shortage
The project will help 6,280 farmers boost production
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The initiative will directly benefit some 6,280 farmers and rural groups in the areas of Akkar-Dannieh, North Baalbeck and Hermel, South and Lower Litani and Mount Lebanon.

The project will help farmers boost production of their crops by introducing improvements in soil and water management, and providing technical support services, and help develop small and medium-sized water harvesting and conservation measures.

IFAD will extend a loan of $4 million and provide a grant of $600,000 to finance the project. Another $8.4 million of cofinancing will come from the OPEC Fund for International Development.

 “To improve water-use efficiency and land productivity, the project will create opportunities for isolated and poor farming communities, including small farmers who incurred losses during the 2006 war,” said Abdelaziz Merzouk, IFAD’s Country Programme Manager for Lebanon.

IFAD has, so far, financed four local projects for a total investment of $36.4 million.

Date Posted: Jun 30, 2010
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