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AfDB Approves $1.5Billion to 20Million Smallholder Farmers

by myeduproject May 21, 2022
written by myeduproject May 21, 2022
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AfDB Approves $1.5Billion to 20Million Smallholder Farmers

The AfDB has approved $1.5 billion to 20 Million Smallholder Farmers in Africa, the AfDB President, Dr. Akinwunmi Adesina, made this statement during the high gear meeting to solve Africa’s reliance on Wheat importation outside the continent

According to Dr. Akinwunmi Adesina “food aid cannot feed Africa”, “Africa needs seeds”, made it clear that Africa has enough land for farming its food and need not beg to survive. “There is no dignity in begging for food.”- the AfDB president added

AfDB Approves $1.5 Billion to 20 Million Smallholder Farmers, this money will be used to facilitate food production in the continent among small farmers

The #AfricanFoodFacility will rapidly produce 38M metric tonnes of food + support 20M farmers across the continent.

“The price of wheat has soared in Africa by over 45% since the war in Ukraine began. Fertilizer prices have gone up by 300%, and the continent faces a fertilizer shortage of 2 million metric tons. Many African countries have already seen price hikes in bread and other food items. If this deficit is not made up, food production in Africa will decline by at least 20% and the continent could lose over $11 billion in food production value.

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How $1.5 Billion to 20 Million Smallholder Farmers Will be Used

“The African Development Bank will provide fertilizer to smallholder farmers across Africa over the next four farming seasons, using its convening influence with major fertilizer manufacturers, loan guarantees, and other financial instruments.

“The Facility will also create a platform to advocate for critical policy reforms to solve the structural issues that impede farmers from receiving modern inputs. This includes strengthening national institutions overseeing input markets.

‘The Facility has a structure for working with multilateral development partners. This will ensure rapid alignment and implementation, enhanced reach, and effective impact.

“It will increase technical preparedness and responsiveness. In addition, it includes short, medium, and long-term measures to address both the urgent food crisis and the long-term sustainability and resilience of Africa’s food systems.”

SOURCE

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