Business African Development Bank Launches $24Bn Feed Africa Initiative

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African Development Bank has launched $24 billion Feed Africa Initiative to help Africa become food self sufficient in 10 years .

President of the African Development Bank, Akinwunmi Adesina said this on his twitter timeline yesterday.

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“Feed Africa: Strategy for Agricultural Transformation in Africa, 2016-2025,” received unanimous endorsement by Executive Directors of the Bank Group in Abidjan, Côte d’Ivoire, on Wednesday, May 22, 2016. The document was widely reviewed by global stakeholders, peer institutions and partners as well as through regional consultations held in Rabat, Kinshasa, Lusaka, Dar es Salaam and Accra.

Focusing on transformation, scaling up agriculture as a business through value addition, led by the private sector and enabled by the public sector, and using innovative financing mechanisms, the strategy aims to end hunger and rural poverty in Africa in the next decade.
 
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