Panafrican News Agency

Guinea-Bissau: AfDB grants 6m euros to empower women, youth in the cashew, fruit and vegetable sectors

Abidjan, Cote d'Ivoire (PANA) - The Board of Directors of the African Development Bank (AfDB) Group has approved a financing of 6 million euros to Guinea-Bissau to implement the Support Project for the Empowerment and financial inclusion of women and young people in the cashew, fruit and vegetable sectors (PAIFJ).

The project, financed by a loan from the African Development Fund - the Bank Group's concessional rate lending window - should contribute to economic empowerment and the creation of sustainable jobs for women and youth.

It also offers training opportunities in the fields of conservation and processing of fruits and vegetables to 300 young girls and boys and a thousand women.

The project also provides for the construction of storage warehouses, drying areas and two cashew processing units.

The AfDB media channel reports that the PAIFJ will last for five years and will be implemented in the autonomous sector of Bissau and in the regions of Cacheu, Oio, and Biombo.

In particular, it will promote the professionalization of 100 cooperatives and micro and small enterprises as well as the creation of 1,500 direct jobs, at least 70% of which are dedicated to women.

The project builds on the lessons learned from previous Bank operations in Guinea-Bissau, namely the Agricultural and Rural Entrepreneurship and Value Chains Support Project and the Value Chain Development Programme.

It complements the efforts of the Bissau-Guinean government and other partners in favor of women and young people.

As of April 30, 2021, the active portfolio of the African Development Bank in Guinea-Bissau comprises 11 operations, with a commitment of some 107.5 million euros.

Nine operations are underway in the public sector and two are regional in nature.

-0- PANA VAO 19May2021