The African Development Bank (AfDB) announced on Tuesday plans to invest $10 billion in efforts to make the continent a “breadbasket” for the world. The investment is part of the AfDB’s Feed Africa strategy, which aims to boost agricultural productivity and increase food security across the continent.
The funds will be used to support projects that increase the use of technology and improve infrastructure in the agricultural sector. The strategy also includes plans to improve access to finance for smallholder farmers and to promote agribusinesses. The AfDB hopes that these efforts will create jobs, reduce poverty, and increase economic growth across the continent.
This announcement was made during the Feed Africa Summit, which was held in Abidjan, Côte d’Ivoire on 23-24 February 2021. The AfDB’s $10 billion investment is a significant step towards improving the continent’s food security and increasing agricultural productivity. The bank’s efforts are not only beneficial for the continent but also for the global community, as Africa is expected to play an important role in feeding a growing world population
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