BY SAIDU JALLOH
In a significant move to bolster the agricultural sector, Dr. Henry Kpaka, Minister of Agriculture, announced a $10 million contribution from the Bank of Sierra Leone through the Sierra Leone Commercial Banks to the Feed Salone Project. This initiative aims to provide farmers with essential access to funds, promoting agricultural investment and easing financial pressure on the government.
Dr. Kpaka emphasized that this initiative, introduced by the banks, seeks to reduce the government’s financial burden. Historically, the government has been responsible for covering 80% of unpaid farmer loans. The new funding aims to alleviate this issue by providing direct support to farmers.
In addition to the local bank contribution, Dr. Kpaka highlighted a 7.5 million euro grant from the European Union dedicated to small-scale farmers. The government has also allocated $60 million to agriculture in 2024, reflecting a strong commitment to the sector. The minister stated that GPS verification for all farm locations is now mandatory to ensure proper allocation of loans.
Dr. Kpaka reported that 6,000 hectares of rice were cultivated last year and set a goal to double production in 2024. The Feed Salone project, already underway, is expected to significantly reduce the importation of rice, onions, and poultry. Private sector involvement is also a key component, with PC and Sons investing in onion plantations, aiming to produce 2,000 metric tons of onions—double the current import volume.
The minister also discussed outcomes from the South Korea-Africa Summit, where he secured additional funds to support the Feed Salone project. An MOU with South Korea’s Minister of Agriculture will facilitate agricultural research and large-scale commercial farming in Sierra Leone. South Korea’s mid-scale rice belt project, which has benefited other African countries, is set to extend its support to Sierra Leone by the end of this year.
Dr. Kpaka concluded by affirming the potential of these initiatives to transform Sierra Leone’s agricultural landscape, promoting self-sufficiency and economic growth.
