The African Development Bank Group (AfDB) in collaboration with the International Fund for Agricultural Development (IFAD) have introduced a new initiative to ramp up agricultural investments in African countries, and to build food systems resilience in Africa through ‘Mission 1 for 200’.
A statement released by both organizations disclosed that AfDB and IFAD agreed to launch the initiative named Mission 1 for 200 during the Africa Food Summit in Dakar, with the aim to increase funding to the agriculture and food sectors, help 40 million African farmers to double productivity and produce 100 million metric tons of food for 200 million people.
‘Mission 1 for 200’ is expected to build resilience by assisting food systems and farmers adapt to climate change and lowering agriculture’s negative environmental impact and emissions.
According to the statement, the initiative seeks to double agricultural productivity through the use of state-of-the-art, climate-smart technology and advice. Additionally, the initiative will work to bring greater investment to fragile regions that are disproportionately impacted by climate change and often deemed “too risky”.
The statement revealed that in order to attain the goals of improved, climate-adapted and value adding agriculture sector, Mission 1 for 200 will leverage the private sector, de-risk and unlock more private investment.
“The initiative will also work to build the enabling and policy environment for food systems and provide delivery models that analyze supply chain structures for providing services that improve the productivity and profitability of smallholder farmers.”
AfDB and IFAD Statement
Signing Of Letter Of Intent
The President of African Development Bank Group, Dr Akinwumi Adesina and the President of IFAD, Dr. Alvaro Lario signed a letter of intent cementing their partnership on the sidelines of Africa Food Summit on ‘Food Sovereignty and Resilience’.
The summit, which has the motive of mobilising high-level political will and financial resources for food and agriculture delivery compacts, was co-hosted by the Government of Senegal and brought together African heads of state, Ministers of Agriculture, Ministers of Finance, Central Bank Governors, Private Sector Operators, farmer organisations and development partners.
President Adesina averred that right from the start, the summit had seen a strong commitment to addressing the need for additional funding in the agriculture sector of African countries.
According to the President of AfDB, ‘Mission 1 for 200’ would provide a strong support and financing mechanism for African governments.
“This landmark initiative will foster innovative agricultural ventures to boost food production, enhance efficiency within a framework of enhanced market dynamics and sustainable food systems, spur policy changes, and tap into co-financing opportunities through collaboration with other development partners, drawing on the expertise of both institutions.”
Dr Akinwumi Adesina
The President of IFAD, Dr. Alvaro Lario divulged that only investments in agriculture that supports small-scale farmers would get Africa out of a ‘worrying downward spiral of crisis after crisis’.
“Strategic investments will boost agricultural productivity, they will build food sovereignty and they will pave the way for a more equitable distribution and access to food, bringing opportunities for all.”
Dr. Alvaro Lario
‘Mission 1 for 200’, he explained, will raise additional funding from creative and unconventional donor sources as well as private sector investors by leveraging the contributions made by both IFAD and the African Development Bank Group.
The initiative will build on the momentum around climate adaptation and mitigation to approach green funds and climate funds as a long-term supportive solution.
Other development partners were encouraged to participate and contribute to ‘Mission 1 for 200’.
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