Local News

Poverty Reduction Programme to benefit over 12,000 people

About 12,000 poor rural persons in Grenada’s rural community stand to benefit from a new poverty reduction programme soon to come on stream.

This was made possible through the signing of a loan between the Government of Grenada and the International Fund for Agricultural Development (IFAD)

Representatives from the International Fund for Agricultural Development (IFAD) and the Government of Grenada signed a US$3 million loan today in Rome for a new poverty reduction programme that will benefit some 12,000 poor rural people in Grenada and Carriacou.

The six-year US$7.5 million Market Access and Rural Enterprise Development Programme will create jobs, improve market access, and support rural micro-enterprise development in 50 communities.  

The Government of Grenada will provide US$2.2 million in co-financing, with the Caribbean Development Bank providing another US$2.3 million.

Implemented by the Grenada Ministry of Finance, the programme seeks to improve access to financial services, strengthen community organizations and producers associations, and support a national advocacy campaign that addresses gender and youth issues.

IFAD has supported rural poverty reduction projects in Grenada for 30 years with US$5.7 million in financing.

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