The programme, tagged Agriculture Productivity Processing Enhancement and Livelihood Scheme Projects (APPEALS) will focus on food security, local production, job creation and economic diversification.
Dr. Sheu Salau, the bank’s Task Team Leader, made the disclosure in an interview, on the sidelines of a two-day meeting on Commercial Agriculture Development Project (CADP).
The team leader said 40 percent of the amount would go to projects to support youth and women in the participating states, which include Kano, Kaduna, Lagos, Cross River, Kogi and Enugu, while the remaining three states would be announced after fulfilling set conditions.
Dr. Salau said the successful implementation of the CADP programme informed the approval for the new project. He said 82 percent of CADP funds had been released to the beneficiaries and disbursement of the balance would continue even after May 31, when the project would wind up. He said so far, more than 3,000 youths and women had benefited from the project in various food supply value chain programmes in the five states that participated.