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Launch of the emergency project to strengthen food production: the African Development Bank will invest 20 million dollars

27/04/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Le 14 avril dernier, le bureau pays de la Banque africaine de développement ont procédé au launch of the Emergency Project to Strengthen Food Production in Marovoay (Boeny region) with the agreement of the Government of Madagascar.

The Emergency Project to Strengthen Food Production is part of the African Emergency Food Production Facility. According to the Malagasy Minister of Agriculture and Livestock, Harifidy Janset Ramilison, “this strengthening of food security will help to address the harmful effects of the war between Ukraine and Russia, which has led to a surge in food products on the market.” For the minister, “this will at the same time make it possible to reduce Madagascar's dependence on imports of these basic necessities. The project thus provides a healthy response to the current context that calls for action.”

The Emergency Project to Strengthen Food Production in Madagascar is financed by the African Development Fund and the Transition Support Facility at a total cost of approximately 20 million US dollars. It aims to increase the production of cereals and oilseeds in Madagascar to deal with the surge in prices of basic necessities, following the successive crises of the Covid-19 pandemic, natural disasters (cyclones, droughts, floods), and the Russian-Ukrainian

conflict.
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