The African Development Bank (AfDB) and Food and Agriculture Organisation (FAO) have entered into a strategic alliance aimed at catalysing
agriculture sector investments in Africa to end hunger and malnutrition and
increase prosperity throughout the continent, reports ITREALMS.
In terms of the agreement, ITREALMS gathered included that AfDB and
FAO are committed to raise up to $100 million over five years, to support joint
partnership activities.
The new alliance precisely seeks to enhance
the quality and impact of investment in food security, nutrition, social
protection, agriculture, forestry, fisheries and rural development.
AfDB President Akinwumi Adesina and FAO Director-General
José Graziano da Silva signed the agreement, which builds on a longstanding
collaboration between their organizations, at the UN agency's Rome
headquarters.
"FAO and the AfDB are deepening and broadening our
partnership to assist African countries achieve the sustainable development
goals. Leveraging investments in agriculture, including from the private
sector, is key to lift millions of people from hunger and poverty in Africa and
to ensure that enough food is produced and that enough rural jobs are created
for the continent's growing population," said FAO Director-General José
Graziano da Silva.
AfDB President Akinwumi Adesina said: "The signing of
this supplementary agreement is a milestone moment in the relationship between
the African Development Bank and FAO. It signals our joint commitment to accelerate
the delivery of high quality programs and increased investment for
public-private-partnerships in Africa's agriculture sector. This will help us
achieve the vision of making agriculture a business, as enshrined in the Bank's
Feed Africa strategy."
The Bank's Feed Africa strategy, launched in 2015, targets
to invest $24 billion into African agriculture over a ten-year period. The aim
is that of improving agricultural policies, markets, infrastructure and
institutions to ensure that agricultural value chains are well developed and
that improved technologies are made available to reach several millions
farmers.
Ayo Midele/GEE
Pix: FAO Director General Josè Graziano da Silva and Akinwumi Adesina, President of the African Development Bank, signing the Supplementary Cooperation Agreement between the two Institutions. Courtesy: FAO/Giulio Napolitano.
