The African Development Bank Group, AfDB, has greenlit a $50 million loan for the Yobe State Environmental and Climate Change Action Project (ECCAP) in northeast Nigeria.
This financial boost aims to fortify resilience against climate change and bolster food security in the region.
With a focus on benefiting over 3.5 million people, the initiative targets mitigating climate risks, enhancing food security, and uplifting livelihoods.
The ECCAP project, with a total funding of approximately $101.34 million, receives support not only from AfDB’s $50 million but also a $30 million co-financing from the Arab Bank for Economic Development in Africa (BADEA).
Additionally, the Yobe State Government pledges $4.52 million in counterpart funding, while project beneficiaries directly contribute $16.82 million, emphasising a collaborative effort to address pressing environmental and agricultural challenges.
The statement read: “The Board of Directors of the African Development Bank Group approved a $50 million loan for the Yobe State Environmental and Climate Change Action Project (ECCAP) to enhance climate change resilience, boost food security, and improve livelihoods for over 3.5 million people in northeast Nigeria.
“The project cost is estimated at $101.34 million with the African Development Bank providing a $50 million loan while the Arab Bank for Economic Development in Africa (BADEA) is expected to provide $30 million in co-financing. Yobe State Government will contribute $4.52 million in counterpart funding, and project beneficiaries are contributing $16.82 million.”
Yobe State grapples with ongoing communal and insurgency conflicts, exacerbating its environmental and economic struggles.
With 72% of its population living below the poverty line, the state confronts significant risks from climate change, highlighting the critical importance of the ECCAP’s mission.
This initiative targets mitigating droughts, combating desertification, empowering women, and fostering the growth of micro, small, and medium-sized enterprises (MSMEs).
Strategies include distributing small ruminants and promoting the use of efficient cooking stoves to address pressing environmental and socioeconomic challenges.
