In response to the global food and nutrition crisis, USAID and Feed the Future, the U.S. government’s global food security initiative, is expanding efforts to directly address and mitigate the impacts of the global food, fuel, and fertilizer shortages in Nigeria.
The USAID funded Feed the Future Nigeria Rural Resilience Activity, implemented by Mercy Corps, in collaboration with the International Fertilizer Development Center (IFDC) and Save the Children International (SCI), is pleased to announce that 262 of its participants have received a Sterling Bank Agric loan to boost their productivity and increase yields.
On August 16, 2022, in Gombe State, the bank and the Rural Resilience Activity launched a disbursement ceremony to celebrate the significant contribution of N82.4 million in loans.
Recipients included women and youth farmers and agribusiness owners in the Northeast states of Gombe and Yobe.
The loans are in response to rising food insecurity and inflation, which are attributed to challenges that predate the Russian invasion of Ukraine such as the economic impacts of Covid-19 as well as other macro-economic conditions like misguided trade, agricultural, and monetary.