The African Development Bank (AfDB)
and Food and AgricultureOrganisation (FAO)
have signed deal aimed at catalysing agriculture sector investments
in Africa to end hunger and malnutrition and increase prosperity throughout the
continent, reports NaijaAgroNet.
The
agreement, NaijaAgroNet gathered comprised
that AfDB and FAO are committed to raise up to $100 million over five years, to
support joint partnership activities.
The new
alliance precisely seeks to enhance the quality and impact of investment in
food security, nutrition, social protection, agriculture, forestry, fisheries
and rural development.
AfDB President
Akinwumi Adesina and FAO Director-General José Graziano da Silva signed the
agreement, which builds on a longstanding collaboration between their
organizations, at the UN agency's Rome headquarters.
"FAO and
the AfDB are deepening and broadening our partnership to assist African
countries achieve the sustainable development goals. 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," said FAO Director-General José Graziano da Silva.
AfDB President
Akinwumi Adesina said: "The signing of this supplementary agreement is a
milestone moment in the relationship between the African Development Bank and
FAO. It signals our joint commitment to accelerate the delivery of high quality
programs and increased investment for public-private-partnerships in Africa's
agriculture sector. This will help us achieve the vision of making agriculture
a business, as enshrined in the Bank's Feed Africa strategy."
The Bank's
Feed Africa strategy, launched in 2015, targets to invest $24 billion into
African agriculture over a ten-year period. The aim is that of improving
agricultural policies, markets, infrastructure and institutions to ensure that
agricultural value chains are well developed and that improved technologies are
made available to reach several millions farmers.
Isaac Oyimah/ED,
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