By JUDITH NAMUTOWE –
THE AFRICAN Development Bank (AfDB) has approved three loans amounting to US$94 million to finance various projects in three countries including Zambia.
Under the approvals, Zambia’s Cashew Infrastructure Development Project (CIDP) will benefit from a $45 million AfDB Loan to finance the revival of the country’s cashew sub-sector.
This is contained in a statement released by AfDB in Lusaka yesterday.
At their regular meetings on November 4, this year, the banks’ Board of Directors approved three loans totalling $ 94 million.
The $ 45 million AfDB loan represents 81.2 per cent of the $ 55.42 million total cost of the project.
Government is expected to provide $ 8.31 million representing 15 per cent while the beneficiaries will contribute $ 2.11 million representing 3.8per cent.
The move would involve leveraging the cashew value chain through irrigation infrastructure for cashew nurseries and clone gardens, cashew plantation rejuvenation, establishment and infrastructure for cashew-processing and marketing.
The project would be implemented over a five-year period by the Agriculture and Livestock Ministry in the districts of Mongu, Limulunga, Senanga, Kalabo, Nalolo, Sikongo, Shangombo, Sioma, Lukulu, and Mitete in the Western Province.
The 10 districts were selected on the basis of their high potential for cashew production, less frost-related problems, high incidence of poverty, food insecurity and malnutrition and vulnerability to environmental degradation and climate change.
About 60,000 smallholder farmers including 30,000 which is about  50 per cent of women and 7,000 youths, are expected to benefit from the project, as each of them is expected to cultivate 100 cashew trees on one hectare.
The project will also create about 6,000 full-time jobs including  3,000 women and 1,000 youths within the cashew value chain from production, processing  up to marketing.