Continental bank finances cereal producers

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Continental bank finances cereal producers
Continental bank finances cereal producers

Africa-Press – Angola. About US$1.5 billion is made available by the African Development Bank (AfDB) to finance the production of wheat, rice, maize and soy, as part of an emergency plan aimed at boosting the rapid supply of these cereals on the continent, declared, yesterday, in Lisbon, the African Union Commissioner Josefa Sacko.

The diplomat, who was speaking at a virtual meeting on the theme “At the time of Africa’s economic sovereignty, transforming resilience into opportunity”, broadcast from the Portuguese capital, said that the forecast is to produce 37.6 million metric tons of these staple food crops. , which translates into an increase of around 30 percent in continental production.

He referred that the strategy of the banking institution, the African Union Commission and countries on the continent was approved at the joint meeting of African ministers of Finance and Agriculture held recently in Dakar, Senegal.

The Commissioner stressed that, in order to ensure the fight against food insecurity, at the last African Union Summit, the theme of the continental institution for 2022 was declared “Building Nutrition Resilience and Food Security on the African Continent and Strengthening Agriculture, Accelerating Capital Human Development, Social and Economic Developmentā€.

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