The African Development Bank has approved a $1.5 billion emergency food production facility for 20 million farmers on the continent to avert a looming food crisis brought on by Russia’s invasion of Ukraine, it said on Friday.
The funding is meant to assist Africa overcome a shortage of at least 30 million metric tonnes of food due to the disruption of global food supplies caused by the conflict in Europe, especially for wheat, maize and soybeans imported from Russia and the Ukraine.
The facility was designed to boost the local production of cereals and oil grains as the most effective and efficient way to build resilience across Africa’s food systems, the bank said.
“African farmers urgently need high-quality seeds and inputs before the planting season begins in May to immediately boost food supplies,” the bank added.
World Bank announces actions to counter growing food insecurity globally: