The African Development Bank (AfDB) Group and the International Fund for Agricultural Development (Ifad) have partnered to take African farmers through a new initiative that will double productivity.

The initiative, named ‘Mission 1 for 200’, seeks to reach out to 40 million African farmers who will produce 100 million metric tonnes of food for 200 million people.

AfDB Group president: Adesina

In a statement published on AfDB website, Ifad president Alvaro Lario said only investments in agriculture that supported small-scale farmers would get Africa out of a “worrying downward spiral of crisis after crisis”.

He said: “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.”

By leveraging the investments by both Ifad and AfDB, Mission 1 for 200 will mobilise additional financing from innovative and non-traditional donor sources as well as private sector investors.

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.

To achieve these goals, Mission 1 for 200 will leverage the private sector, de-risk and unlock more private investment to promote enhanced and climate adapted production as well as value-addition.

AfDB Group president Akinwumi Adesina said 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.”

 Mission 1 for 200 welcomes the participation and contribution of other development partners.

The post AfDB, Ifad partner to scale up agricultural investments first appeared on The Nation Online.

The post AfDB, Ifad partner to scale up agricultural investments appeared first on The Nation Online.