Signing of Japanese ODA Loan Agreement with Nigeria: Contributing to food security by supporting the implementation of institutional reforms in the agricultural sector
［Goal 2］ Zero Hunger
2024.04.25
On April 24, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Federal Government of Nigeria in the capital, Abuja, to provide a Japanese ODA loan of up to 15,000 million yen for the Food Security Emergency Assistance Loan.
Nigeria is currently suffering the effects of a food security crisis due to surging global energy prices and agricultural input prices, among other factors. To help overcome this situation, this agreement, through financial assistance, will help build strong agricultural infrastructure while also promoting national food and nutritional security. In order to do so, it will contribute to the reform of the country’s agricultural sector system, the improvement of access to agricultural inputs for small and marginal farmers, and the strengthening of the domestic production system of agricultural inputs through private sector participation. The loan will therefore also contribute to the achievement of SDGs Goal 2 (Zero hunger).
This loan will be co-financed by the African Development Bank (with a contribution of $134 million) and will be implemented with close collaboration between the bank and JICA.
Details for the project are provided below.
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signing ceremony
1. Terms and Amount of Loan
| Project title | Amount (million yen) |
Annual interest rate (%) | Repayment period (years) | Grace period (years) |
|---|---|---|---|---|
| Food Security Emergency Support Loan | 15,000 | 1.05 | 30 | 10 |
2. Executing Agency
- （１）Federal Ministry of Finance
- （２）Federal Ministry of Agriculture and Food Security
3. Planned Implementation Schedule
- (1) Completion of project: May 2027—with the completion of the loan.
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