The International Fund for Agricultural Development (IFAD) is to make a US$19-million grant to Guinea Bissau to finance agricultural projects, Guinea Bissau News Agency reported.

Geraldo Martins, Guinea-Bissau’s Minister of Economy and Finance, and an IFAD representative signed the contract on March 30, the agency reported, quoting official sources.

The funds are to be used in rice farming and livestock breeding projects to start in June, the government said.

In March, international donors in a Brussels conference hosted by the European Union pledged more than 1 billion euros (US$1.1 billion) in support for the African country’s 10-year development plan.