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Increasing agricultural productivity: donors pledge to invest $30 billion

02/02/2023
Source : ORISHAS FINANCE
Categories: Sectors

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The second African food summit held in Senegal, “Dakar 2", closed on Friday, January 27, 2023. From all discussions, donors agreed to commit $30 billion with the objectives of stimulating agricultural productivity.

Based on the theme “Feeding Africa: Food Sovereignty and Resilience”, the second African Food Summit is organized by the Senegalese government and the Banque africaine de développement ( BAD). The meeting brought together 34 heads of state and government as well as 70 ministers and development partners. According to the Senegalese Minister of Agriculture Aly Ngouille Ndiaye in the final declaration of the summit, “each country came with a national food pact to present to the African Development Bank and other development partners.”

The 30 billion will help stimulate agricultural productivity. Indeed, of the $30 billion, the ADB plans to contribute $10 billion over five years and the Islamic Development Bank $5 billion. The Dutch Director General for Cooperation, Kitty Van Den Heijden, said in a video message that her country would commit €450 million over the next five years to food security programs and support the African Development Bank's African Emergency Food Production Facility with $30 million.

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