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Home Business & Finance

AfDB will invest $10.4 billion to boost food production in Africa

by Awoko Publications
04/05/2021
in Business & Finance
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AfDB will invest $10.4 billion to boost food production in Africa
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Sierra Leone: The African Development Bank (AfDB) will put greater support behind efforts to feed Africa by investing $10.4 billion, over the next five years, to boost the development of agricultural value chains and food production in Africa.

The Bank will also invest $1.6 billion, in the next five years, to support 10 strategic crops to drive food security.

“We will do our part. But greater amounts of resources are needed to feed Africa” said Dr. Akinwumi A. Adesina, President, AfDB at the opening Session of the High-level Virtual Dialogue on Feeding Africa: Leadership to Scale Up Successful Innovations.

COVID-19 he said has wreaked havoc. Aside from the number of people that have died, the impact on Africa’s food security has been severe. Today, 246 million Africans go to bed hungry each day.

Unfortunately, for many in Africa, he said, the risk of dying from hunger is much higher than dying from COVID-19. “To fully recover from the pandemic, Africa must now rapidly upscale efforts to boost food production. Without food medicines don’t work. Without nutrition, vaccines are not effective” he stressed.

He urged Heads of States in Africa, partners and friends of Africa, to forge a stronger partnership for greater scale that will take technologies and innovations to hundreds of millions of farmers.

A partnership to develop markets for agriculture that unleashes the creativity of the youth and women in agriculture. A partnership to use agriculture to create decent jobs and wealth for Africa.

“We must produce food on less land. We must conserve forests. And we must ensure sustainability and climate resilience. Technologies to feed Africa exist. What has been lacking has been a comprehensive approach to take them to scale – with accountability for impacts” he said.

To take technologies off the shelves and get them into the hands of farmers, the AfDB President said there is need for a technology development and delivery platform that works at scale.

That he explained is exactly what has been done by the Technologies for African Agricultural Transformation (TAAT), a technology and innovation delivery platform supported by the AfDB, The Bill & Melinda Gates Foundation, IFAD and several other partners.

Launched just two years ago, the TAAT platform has delivered heat tolerant wheat varieties to 1.8 million farmers in seven countries, increasing wheat production by 1.4 million metric tons, with a value of $291 million.

In just two years, TAAT has worked across 28 African countries, on 76 proven agricultural technologies, across 15 crops, and reached 11 million farmers. Food production has expanded by over 12 million metric tons. And TAAT has saved countries food imports worth $814 million.

“The achievements to date have been impressive. We must now go to scale to feed 1.4 billion people in Africa, taking advantage of market opportunities provided by the African Continental Free Trade Area” he said, and called for strong political leadership to turn Africa into an agricultural power-house.

ZIJ/02/05/2021

By [email protected]

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