Sri Lanka signs finance agreement with IFAD to strengthen rural households

IFAD - The International Fund for Agricultural Development

The International Fund for Agricultural Development (IFAD) and the Sri Lankan government have signed a 33.7 million dollar financing agreement that will help 57,500 rural households in Sri Lanka, a Foreign Ministry statement said here Tuesday.

The agreement will increase the families’ incomes and food security by expanding livelihood and business opportunities in agriculture.

The agreement was signed by Gilbert F. Houngbo, president of IFAD and R. H. S. Samaratunga, Secretary to Treasury and the Ministry of Finance and Mass Media of Sri Lanka.

The new Smallholder Agribusiness Partnerships program will provide a platform for smallholder farmers in Sri Lanka, particularly for women and young people, to access financing and business training and will help them to form partnerships with each other and with the private sector.

IFAD has been working with Sri Lanka since 1978, investing a total of 317.2 million U.S. dollars in 18 programs and projects which reach over 614,832 households.