ACCRA – The African Development Bank (AfDB) has approved a $1.5 billion emergency program to mitigate the impact of worsening food insecurity resulting from the war in Ukraine, its bank director said on Monday.
About 20 million farmers on the continent will benefit from the fund as Africa faces shortages of at least 30 million tonnes of food, especially wheat, maize and soybeans, imported from Russia and Ukraine.
“The $1.5 billion…will be used to help African countries produce food, and fast,” AfDB Group President Akinwumi Adesina told media ahead of the annual general assembly in Accra, the capital of Ghana.
The program aims to contribute to the production of 38 million tons of food. It will be 11 million tons of wheat, 18 million tons of corn, 6 million tons of rice and 2.5 million tons of soybeans.
“Food aid cannot feed Africa. Africa doesn’t need handmade bowls. Africa needs seeds in the ground and mechanical harvesters to harvest locally produced food in abundance,” said Adesina.
“Africa will feed itself with pride, because there is no dignity in begging for food.”
The program aims to provide seeds, fertilizers and services to farmers and support post-harvest management, the AfDB said in a statement.
AfDB will also provide financing and loan guarantees for large-scale fertilizer supply.
According to an AfDB statement, the food production program is “an unprecedented comprehensive initiative to help smallholder farmers cope with food shortages”.
Since the Russian invasion of Ukraine, the price of wheat in Africa has increased by more than 45%.
Fertilizer prices have risen by 300% and the continent is facing a two million ton fertilizer shortage.
Many African countries have already experienced increases in the price of bread and other foodstuffs, exacerbated by increases in the fuel used to transport them.
“If this gap is not closed, Africa’s food production will fall by at least 20% and the continent could lose over $11 billion in food production value,” the AfDB said.
- additional report by AFP
