The Bank of Agriculture (BOA) and the International Organisation for Migration (IOM) have set up a $200 million agriculture and livelihood fund to empower displaced Nigerians and boost economic inclusion.
IOM is an organisation under the United Nations (UN).
In a statement on Friday, BOA said that with over 3.8 million internally displaced persons (IDPs) nationwide, the partnership moves beyond aid, unlocking real and lasting opportunity.
According to the bank, the fund will provide agri-finance, train displaced communities, and connect farmers to markets.
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Ayo Sotinrin, the managing director (MD) of BOA, said the partnership is more than finance, “it’s an investment in people & national stability”.
In a related post on Saturday, Dada Olusegun, special assistant to President Bola Tinubu, said the agreement was signed in Abuja by IOM’s Ugochi Daniels, deputy director general for operations, and Sotinrin.
The announcement comes four months after the federal government committed N200 billion to agricultural interventions and earmarked N1.5 trillion for the recapitalisation of the BoA to empower farmers across the country.
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