Thursday
July 28
2022

African Development Fund Approves Additional $5.6 Million Grant Funding to Bolster Food Security and Resilience

The Board of Directors of the African Development Fund has approved a $5.6 million grant in additional funding for Mozambique’s Post Cyclone Idai and Kenneth Emergency Recovery and Resilience Program.

This additional funding is under the Bank’s African Emergency Food Production Facility aims to build the resilience of Mozambique’s food systems in response to the current global food crisis, worsened by the war in Ukraine. The funds will be drawn from the African Development Fund, the African Development Bank Group’s concessional window.

Like many other African countries, Mozambique depends on Ukraine and Russia for major cereals and grains supplies and the nation has been impacted by global food price hikes caused by the war in Ukraine and the lingering Covid-19 pandemic.

Photo courtesy of International Institute of Tropical Agriculture.

Source: Farmers Review Africa (link opens in a new window)

Categories
Agriculture
Tags
agriculture, business development, crisis, food security, funding