(Ecofin Agency) - The International Fund for International Development (IFAD) yesterday signed an agreement with the Kingdom of Eswatini for the implementation of the Financial Inclusion and Cluster Development Project. Under this agreement, IFAD is backing the $38.5 million project with $8.9 million.
The initiative aims to improve the revenues of sustainable agricultural and non-agricultural businesses by strengthening their links with markets and better easing their access to financial services. It will target young men and women aged 18 to 35 years and will focus on poultry, market gardening, pig farming, cattle and goat farming, and vegetable seeds. The program is expected to have direct impact on 30,900 rural farmers and 18,500 agricultural and non-agricultural businesses.
In Eswatini, agriculture accounts for almost a third of export earnings and employs a quarter of the working population.