The support accompanies a renewed push for self sufficiency anchored in the Senegal River Valley campaign and is intended to integrate domestic rice into commercial distribution channels.
The National Irrigation Authority will convert the Ahero pumping station into a hybrid system powered by a 500-kilowatt solar plant.
While production may slip, consumption is expected to remain stable at 11.7 million tonnes
Tankers and container ships are avoiding the Strait of Hormuz since insurers have cancelled coverage.
The Facility is initially guaranteed by Olam Group which will be assumed by Olam Agri upon demerger.