Jeddah, 7 August 2013: The Vice President (Operations) of the Islamic Development Bank (IDB), Mr. Birama B. Sidibe has signed a US $23.7 million agreement in Bamako, Mali with H.E. Mamadou Namory Traore, Minister of Economy and Humanitarian Action of the Republic of Mali (IDB Governor) to finance a major agricultural project. The signing ceremony was attended by Mali’s Minister of Agriculture, Mr. Baba Berthe. The aim of the project is to help Mali build resilience against the recurring food
insecurity.

This financing comes as part of the US $250 million pledged by the IDB for the rebuilding of Mali during the International Donors Conference held in Brussels in May 2013.

The IDB Vice President affirmed that the objective of the project is to help reduce the impact of drought and food insecurity in the country and to recover the gains achieved during the previous Economic and Social Plan.

This project seeks to secure good living conditions for the targeted rural areas and assists in developing the capacity of rural communities to adapt to climate change. It also helps the decision makers collect all necessary information for food crisis management. Upon finalization of implementation, the project will provide 600 tons of inland fish from rivers and lakes, 150 tons of small ruminant meat and 4000 tons of rice annually.

Since joining IDB in 1978, the Republic of Mali has received approvals for projects and trade operations worth US $782 million from the IDB Group.