The African Development Bank will provide a $40m loan to Mali’s military government, which said the funds would be used to support rural women and young people deal with the impact of climate change.
In a statement after a meeting of the country’s council of ministers, the government said the financing aims to employ young people and women “in climate-resilient and low-carbon agricultural value chains”.
The project will be carried out in the Koulikoro Region and Yanfolila.
Authorities in the West African country say the project “will reduce the vulnerability of the population to possible climate shocks and increase their response capacity through the construction of infrastructure and facilities that are resilient to climate change”.
The draft agreement for the multi-million dollar loan was initially signed in January between the bank and Mali’s foreign affairs minister in Bamako. It was ratified on Wednesday during a cabinet meeting chaired by the military ruler, Colonel Assimi Goita.
Mali is grappling with insecurity due to violence by various armed groups. In addition, a prolonged drought blamed on climate change is also affecting millions of people.