AfDB Board Okays $1.5bn to Avert Food Crisis in Africa
By Adedapo Adesanya
The Board of Directors of the African Development Bank Groups (AfDB) on Friday approved a $1.5 billion facility to help African countries avert a looming food crisis.
With the disruption of food supplies arising from the Russia-Ukraine war, Africa now faces a shortage of at least 30 million metric tons of food, especially wheat, maize, and soybeans imported from both countries.
The Abidjan-based bank, among other institutions, has disclosed that African farmers urgently need high-quality seeds and inputs before the planting season begins in May to immediately boost food supplies.
The Abidjan based bank’s $1.5 billion African Emergency Food Production Facility is an unprecedented comprehensive initiative to support smallholder farmers in filling the food shortfall. It will provide 20 million African smallholder farmers with certified seeds.
Also, it will increase access to agricultural fertilizers and enable them to rapidly produce 38 million tons of food, which is about a $12 billion increase in food production in just two years.
The President of AfDB Group, Mr Akinwumi Adesina, said: “Food aid cannot feed Africa. Africa does not need bowls in hand. Africa needs seeds in the ground, and mechanical harvesters to harvest bountiful food produced locally. Africa will feed itself with pride for there is no dignity in begging for food.”
Also, the Vice President of AfDB for Agriculture, Human and Social Development, Ms Beth Dunford, said, “The Africa Emergency Food Production Facility builds on lessons learned from the African Development Bank’s Feed Africa Response to COVID-19 programme. That programme has provided a strategic roadmap to support Africa’s agriculture sector and safeguard food security against the pandemic’s impact.”
The facility has benefited from stakeholder consultations, including those with fertilizer producers and separately with African Union agriculture and finance ministers earlier this month.
The ministers agreed to implement reforms to address the systemic hurdles that prevent modern input markets from performing effectively.
The bank’s $1.5 billion strategies will lead to the production of 11 million tons of wheat; 18 million tons of maize; 6 million tons of rice; and 2.5 million tons of soybeans.
The plan is to provide 20 million farmers with certified seeds, fertilizer, and extension services. It will also support market growth and post-harvest management.
Also, the 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.
It has a structure for working with multilateral development partners. This will ensure rapid alignment and implementation, enhanced reach, and effective impact and 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.