AfDB, UN FAO commit $100 mn investment in Africa
The African Development Bank (AfDB) and the United Nations Food and Agriculture Organisation (FAO) have decided to raise up to US$100 million over the
Aug 31, 2018: The African Development Bank (AfDB) and the United Nations Food and Agriculture Organisation (FAO) have decided to raise up to US$100 million over the next five years to accelerate agriculture investments in Africa.
The two organisations will come up with a programme of action with a series of outcomes – including more effective bank-financed investment operations, increased public-private partnership investments and a better investment climate. Their initsial financial contribution will be US$15 million.
AfDB president Akinwumi Adesina said that the FAO’s technical assistance would cover areas such as sustainable agricultural intensification and diversification, scaling up value chain innovations, agricultural statistics and capacity building.
“Leveraging investments in agriculture, including from the private sector, is key to lift millions of people from hunger and poverty in Africa and to ensure that enough food is produced and that enough rural jobs are created for the continent’s growing population,” stated Jose Graziano da Silva, director-general, FAO.