The African Development Bank (AfDB) and other development partners have committed a total of $30 billion to national compacts, which aim to achieve food sufficiency in the continent in the next five years.
The resolution was one of the outcomes of the rigorous boardroom deliberations involving 41 countries and 34 Heads of State and Government held as part of the second edition of the Feed Africa Summit held at the Abdou Diouf Centre for International Conference, Dakar, Senegal, from January 25 to 27.
The $30 billion commitment excludes other efforts targeted at attracting other private sector funding to the agriculture ecosystem. The president said the compacts developed for funding were 40 in total, and that initiatives that secure foods supply in the whole of the continent would be prioritised. Earlier at the opening event, Adesina disclosed that AfDB would commit $10 billion to the continent’s food sufficiency drives in the next five years. The bank also signed a letter of intent with the International Fund for Agricultural Development to scale up the production of 40 million farmers to feed 200 million Africans.
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