IFAD extends FADIP to another 6 months

International Fund for Agricultural Development (IFAD) has decided to extend the Fisheries and Agriculture Diversification Program (FADIP) to another 6 months.

FAPID was on the verge of termination due to management issues, when the current administration came into power. 1.7 million U.S. dollars were granted for nine corporate societies and more than 40 individuals were given loans under this program.

According to Ministry of Fisheries and Agriculture, 30 products have been brought to the market with assistance from the loans.

IFAD loan schemes for value addition for fisheries and agriculture aim to provide financial aid to both fishermen and farmers via enhancing productivity and empowering grass-root communities.