US $30 billion to benefit Farmers, Strengthening Africa’s Agriculture
It is farmers like Mutiso who are set to benefit from the US $30 billion pledged by major development institutions, the private sector and African leaders at the African Green Revolution Forum (AGRF) in Nairobi, Kenya.
The funds will support investments to increase production and income for smallholder farmers and local African agriculture businesses over the next decade. A session on “Making Political, Policy and Financial Commitments to Africa’s Agricultural Transformation” saw Kenya’s President, Uhuru Kenyatta, pledge US $200 million to support 150,000 young farmers and agricultural entrepreneurs to access markets, finance and insurance over the next five years.
The African Development Bank announced investments of US $24 billion in the coming decade to drive Africa’s agricultural transformation. “This is a 400% increase in financing to the agricultural sector by the Bank from its current levels of $600 million per year,” Chiji Ojukwu, Director of the Bank’s Agriculture and Agro-industries Department, remarked on behalf of Bank President Akinwumi Adesina.
Photo: David Mutiso, a farmer in Mwala in Eastern Kenya tending to his bananas (Credit: AfDB) https://adalidda.net/posts/cuRaxb2MufoYNW5Fd/us-usd30-billion-to-benefit-farmers-strengthening-africa-s