AfDB seeks $200m from G7 for Africa’s food intervention
The African Development Bank (AfDB) is seeking $200 million from Germany and other members of G-7 countries to “urgently” address food crisis in the continent.
The bank is requesting this with a view to funding its $1.5 billion African Emergency Food Production Plan, a flagship intervention to avert the looming crisis.
President of AfBD Group, Akinwumi Adesina, tabled the request at the G7 Ministerial Conference on ‘Uniting for Global Food Security’, saying the support is required in addressing the global food crisis partly caused by Russia’s invasion of Ukraine.
“While the African Development Bank has mobilised $1.3 billion of the $1.5 billion needed for the African Emergency Food Production Plan, we have a financing gap of $200 million. I would, therefore, like to request that Germany and all G-7 countries help provide this balance of $200 million,” Adesina said.
The food intervention roadmap of the bank was laid at its annual general meeting (AGM) held in Accra, Ghana, last month, with the ex-Nigeria agriculture minister insisting: “Africa does not need a bowl in the hand but seeds in the ground” to feed itself and serve as solution to the global food shortage.
He said the funding gap is required urgently to facilitate the desire to make Africa “a global solution to global food crisis.” He pointed out that Africa has the right technology to produce sufficient food for consumption and export.
The African Emergency Food Production Plan was developed by the bank in conjunction with the African Union. It had earlier secured approval of the board.
The AfDB boss said Africa, through the plan, would bring to the table a unique solution to tackling the food crisis. The plan will provide 20 million African smallholder farmers with certified seeds and increased access to fertilisers.
The goal is to produce 38 million tons of food in about two years to achieve food sovereignty for African countries and feed its 1.2 billion population.