Guinea Bissau - Value Chains, Agricultural and Rural Entrepreneurship Support Project (PACVEAR-GAFSP) - Additional Financing

The original project provided for the development of 660 hectares of rice farms and 60 hectares of vegetable farms. Technical studies indicated an overrun of about 30% in the cost of hydro-agricultural works, stemming from:(i) price hike striggered by the effects of Russia’s invasion of Ukraine and the COVID 19 pandemic; (ii) technical options for developing the lowlands (dyke height and length) and vegetable farms (solar energy and fencing to keep off stray animals); and (iii) inclusion of the Binhoni lowlands (180 ha) and 20 ha of vegetable farms that had not been developed under the PDCV-Riz project due to the lack of financial resources. These new works will be financed with ADF16 resourcesas requested by the Government. The project contributes to climate finance, with 7 million USD of the total approved amount dedicated to adaptation.