{"id":77690,"date":"2022-05-24T22:37:01","date_gmt":"2022-05-24T20:37:01","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=77690"},"modified":"2022-05-24T22:37:01","modified_gmt":"2022-05-24T20:37:01","slug":"afdbs-1-5-bn-emergency-food-production-package-to-boost-output-of-20-m-african-farmers","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/afdbs-1-5-bn-emergency-food-production-package-to-boost-output-of-20-m-african-farmers\/","title":{"rendered":"AfDB’s $ 1.5 bn emergency food production package to boost output of 20 m African farmers"},"content":{"rendered":"

The African Development Bank (AfDB)<\/a> has approved a $1.5 billion Emergency Food Production Facility to help tackle the global food crisis sparked by the Russian-Ukraine crisis.<\/p>\n

The funds will help 20\u00a0million African farmers produce an extra 38\u00a0million metric tons of food to address growing fears of starvation and food insecurity on the continent.<\/p>\n

The Bank, which is Africa\u2019s only AAA-rated financial institution, has consistently maintained this credit rating by all major global credit rating agencies.<\/p>\n

The emergency food production package comes as the African Development Bank gathers in the Ghanaian capital of Accra for its 2022 Annual Meetings this week. Delegates will take stock of the Bank\u2019s projects, which have impacted the lives of 335\u00a0million Africans in the last five years, while looking ahead to new challenges and opportunities.<\/p>\n

Overcoming Africa\u2019s challenges includes building back from Covid-19. Early in the pandemic, the Bank provided a crisis response facility of up to $10\u00a0billion to African countries to help overcome its social and economic impacts.<\/p>\n

It also launched a $3 billion Covid-19 social bond on the global capital markets, at the time, the highest ever US dollar denominated social bond. According to the Bank\u2019s president, Dr. Akinwumi Adesina, this helped provide social protection to about 30 million vulnerable people.<\/p>\n

Adesina said: \u201cOur rapid Covid-19 response facility helped stabilize African economies. It helped train 130,000 health workers, and provided advisory support for 300,000 small and medium sized businesses.\u201d<\/p>\n

Discussions at the African Development Bank Group Annual Meetings in Accra will also cover a range of topics including climate change, where the Bank, together with former UN Secretary General Ban Ki-Moon and the Global Center on Adaptation, is mobilizing $25\u00a0billion to support climate adaptation and resilience.<\/p>\n

The meetings will also include substantive discussion on providing increased financial support to women entrepreneurs. The Bank\u2019s Affirmative Action for Women In Africa is one of its flagship programs.<\/p>\n

Adesina said: \u201cWith the support of President Emmanuel Macron and G-7, our Affirmative Action for Women in Africa (AFAWA) is raising $5\u00a0billion for women businesses. In 2021, we paid out $483\u00a0million to financial institutions to lend to women businesses. We will lend $500\u00a0million for women in 2022.\u201d<\/p>\n

In highlighting these successes, Adesina dismissed recent critics of the Bank\u2019s management. He points to an independently conducted survey by a global human resources firm, which found high levels of satisfaction (85%) among bank staff.<\/p>\n

The Bank head says: \u201cOur achievements, exceptional management, good governance systems, and delivery of the Bank cannot be denied or misrepresented based on externally fabricated untruths, distortions, misinformation, and a deliberately orchestrated campaign of calumny to attempt to tarnish our image.\u201d<\/p>\n

\u201cWe will tell our story. We will not be defined by mischief-makers, lies and biases. We are proudly African.\u201d<\/p>\n

The African Development Bank has 81 stakeholder countries who support its work. 3,000 participants are expected to attend this week\u2019s Annual Meetings in Accra.<\/p>\n

\n","protected":false},"excerpt":{"rendered":"

The African Development Bank (AfDB) has approved a $1.5 billion Emergency Food Production Facility to help tackle the global food crisis sparked by the Russian-Ukraine crisis. The funds will help 20\u00a0million African farmers produce an extra 38\u00a0million metric tons of food to address growing fears of starvation and food insecurity on the continent. The Bank, […]<\/p>\n","protected":false},"author":410,"featured_media":77691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6030],"tags":[],"yoast_head":"\nAfDB's $ 1.5 bn emergency food production package to boost output of 20 m African farmers - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The AfDB has approved a $1.5 bn Emergency Food Production Facility to help tackle the global food crisis sparked by the Russian-Ukraine crisis.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/afdbs-1-5-bn-emergency-food-production-package-to-boost-output-of-20-m-african-farmers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB's $ 1.5 bn emergency food production 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