AfDB’s US$650m rice development program to enhance food security in West Africa

Published 2024년 7월 25일

Tridge summary

The African Development Bank, in partnership with the Africa Rice Center, is launching a $650 million program to boost rice production and food security in West Africa, involving one million farmers across 15 countries. This initiative is part of the Bank's broader efforts, which include a capital increase to $318 billion, the launch of a $750 million hybrid capital, and progress in the Desert to Power initiative. Additionally, the African Union Chairperson, Mohamed Ould Ghazouani, announced plans to raise $100 billion to support export-oriented businesses, emphasizing the need for effective coordination to achieve the goals of Agenda 2063 for sustainable development.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The African Development Bank is launching a US$650 million Regional West Africa Rice Development program in collaboration with the Africa Rice Center with the primary objective to enhance food security in West Africa. The president of the African Development Bank Group, Dr. Akinwumi Adesina who announced this emphasised that the initiative is expected to include one million farmers across 15 countries and produce 53 million tons of rice. “In five years, West Africa will achieve self-sufficiency in rice. We know we can do it. Our work helped Ethiopia to become self-sufficient in wheat in under four years, turning it into a net wheat-exporting country. What is critical is strong political will,” the Bank Group head said, referencing the Bank’s flagship Technologies for African Agricultural Transformation (TAAT) program. Dr. Akinwumi Adesina, outlined the Bank’s successes in mobilizing financial resources for the continent’s development needs at the African Union. Addressing heads of ...
Source: Thebftonline

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