livestock
livestock

The World Bank (WB) has approved an International Development Association (IDA) credit of 170 million U.S. dollars to boost the contribution of the livestock and fisheries sectors to Ethiopia’s economy.

The funding aims to support Ethiopia’s efforts to unleash the potential of livestock and fisheries sectors in the East African country, according to a statement from WB later Thursday.

The Livestock and Fisheries Sector Development Project will help 1.2 million farm households who largely depend on livestock-keeping and fishing, with the skills and tools they need to considerably increase the volume and quality of their produce, said Carolyn Turk, World Bank Country Director for Ethiopia, Sudan and South Sudan.

Ethiopia has the largest livestock population in Africa and the fifth largest in the world.

Despite receiving limited public investments over the years, the livestock sector continues to be a major source of foreign exchange earnings and accounts for nearly 40 percent of the country’s agricultural GDP (gross domestic product), according to the statement.

The government of Ethiopia has identified the livestock and fisheries sectors as essential aspects of its journey to reach the middle-income country status, and the sectors will also contribute to the country’s green growth priorities, says the WB.

The project will be principally implemented in 58 woredas (districts) in six regions, including Amhara, Benishangul-Gumuz, Gambella, Oromia, SNNPR (Southern region), and Tigray, with crosscutting activities of the project having a national coverage. Enditem

Source: Xinhua/NewsGhana.com.gh

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