Senate Approves €995 million for the Green Agricultural Mechanisation Programme.
In accomplishing the 2021 FMYSD Sustainability Plan, we bring you recent information that the Nigerian Senate has announced its approval of a loan valued at €995 million from the Brazilian Development Bank and Deutsche Bank for the development of Nigeria’s agriculture value chain.
This was disclosed by the federal government on Wednesday evening after the Senate approved the loan, stating that the Green Imperative Scheme would train 100,000 new extension workers, create about 5 million jobs, and positively impact over 35 million Nigerians in a 5-10 year period.
The federal government said, “Today, the Nigerian Senate, approved the President’s request for approval of €995 million in loans from the Export-Import Bank of Brazil (BNDES) & Deutsche Bank of Germany (and guaranteed by the Islamic Development Bank) for the Green Imperative Agricultural Mechanisation program.
Recall that the The Green Stimulus is a part of the Economic Sustainability Programme, implemented under the initiative of the Federal Ministry of Youths and Sports Development in Nigeria. This programme is designed to develop a new breed of trained technicians with basic and advanced knowledge in renewable energy and smart agriculture.
The Green Stimulus Programme will train and empower 300 youths across the six geopolitical zones through an online access guaranteed and fully paid training.