Tuesday
March 22
2022

African Development Bank Proposes $1 Billion Plan to Move Away From Russian Wheat

By Jeune Afrique

This $1bn financial package would help avert food shortages in Africa by enabling the agricultural sector’s development, according to the AfDB.

On 15 March, Akinwumi Adesina announced that AfDB has proposed a $1bn fundraising effort to help 40 million African farmers use climate-resilient technologies and increase their production of heat-tolerant wheat varieties. Aside from the technological aspect, this new strategy aimed at developing the African agricultural sector is particularly relevant given the present war between Ukraine and Russia.

Photo courtesy of Michael Callaghan.

Source: The Africa Report (link opens in a new window)

Categories
Agriculture
Tags
agribusiness, agriculture, banking, climate, food systems, social impact, technology