Rome, 12 February 2015 – The International Fund for Agricultural Development (IFAD) and the government of the Islamic Republic of Pakistan are financing a US$40.83 million project to contribute towards government’s effort to increase productivity in the livestock and dairy sector and reduce poverty for 112,500 rural households in four districts in the Punjab Province.
IFAD will provide a loan of $35 million on highly concessional terms to finance the Pakistan Livestock and Access to Market Project (LAMP). The loan agreement was signed today in IFAD headquarters by Kanayo F. Nwanze, President of IFAD, and Tehmina Janjua, Ambassador and Permanent Representative of Pakistan to the United Nations in Rome.
The project will address key constraints in the livestock sector including high mortality rates. The project will improve farmers’ access to markets and agribusinesses – such as dairies.
The IFAD-supported project is co-financed with contributions from the government of Punjab, the beneficiaries themselves and the private sector. It will be implemented over a six-year period.
“We are addressing the needs of the poorest farmers whose livelihoods and food security depend on livestock,” said Hubert Boirard, Country Programme Manager, IFAD. “Many of these households are headed by women. All livestock farmers will receive training and support to develop livestock production and connect to markets and small dairy businesses in the region.”
To date, IFAD has invested in 26 projects in Pakistan that had a total cost of nearly 2.4 billion of which IFAD contributed $565.8 million, directly benefitting 1,980,400 households.