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US Donates 205 Million To Fuel Nigeria Agribusiness. This was made known through the U.S. Agency for International Development (USAID)
During the upcoming two-day West Africa Trade and Investment Hub workshop, the U.S. Agency for International Development (USAID) will showcase its efforts to increase trade and investment opportunities in the region. As part of its focus on private sector engagement to promote sustainable impact, USAID will highlight its successful collaboration with the United States Government in securing $205 million in debt and equity investments for Nigerian agribusinesses over the past five years. With a vast labor force and potential for economic growth, Nigeria has a unique opportunity to become a key exporter and hub in West Africa and beyond.
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The USAID’s Trade and Investment Hub workshop in West Africa is geared towards enhancing private sector competitiveness through a market-centric approach that focuses on increasing the productivity and profitability of smallholder farmers in Nigeria. The project also promotes partnerships with various firms across diverse sectors through a co-investment grant facility that seeks to boost private sector productivity, profitability, and competitiveness. Sara Werth, the Acting Mission Director at USAID, expressed her pride in the results achieved so far, which were made possible through collaboration with private sector partners and local and national governments in the region. She also emphasized the importance of continued collaboration and building new connections for sustainable economic growth, financial inclusion, and climate resilience.
The Trade and Investment Hub has played a crucial role in jumpstarting private-sector investments across 16 West African nations, resulting in 93 investments since its establishment in 2019. Partner companies have also benefitted from the co-investment grant program, which has allocated $82.6 million and generated $463 million in sales while creating over 60,000 job opportunities. These efforts have made a significant contribution to the economic well-being of the region, thanks to the Hub’s innovative approach and strong partnerships.
US Donates 205 Million To Fuel Nigeria Agribusiness
US Donates 205 Million To Fuel Nigeria Agribusiness
