Maize and Rice sectors to first benefit from TIRSAL fund

Agriculture

Thursday, 03 May 2018 15:00

Maize and Rice sectors to first benefit from TIRSAL fund

(Togo First) - Launched last April 25 with the support of Nigeria and AfDB, the pilot phase of Togo Incentive-Based Risk Sharing System for Agricultural Lending (TIRSAL) will begin soon, impacting maize and rice sectors first.

The fund will help boost these cereals’ outputs. This is good news considering that Togo recorded last season a rice deficit of 70,000 tons which should be recorded during the actual season also, according to USDA. According to the institution’s statistics, the country’s rice output in 2016-17 stood at 80,000 tons while imports were at 150,000 tons.

As for maize, it is faring much better and in fact even recorded an oversupply in 2014. Yet, it still needs a boost to fully help achieve self-sufficiency and ensure food security.

After the two crops selected to initially benefit from TIRSAL, others such as soybeans should follow.

TIRSAL is an agricultural fund that is aimed at providing financing and loan guarantees, cheaply, to farmers. It will mobilize in the long run €100 million (CFA65 billion) from associated banks and institutions, private sector, government but also technical and financial partners, and should benefit more than a million farmers.

Fiacre E. Kakpo

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