Zim gets US$26.7m AfDB boost
NDAMU SANDU
The African Development Bank (AfDB) has approved a US$26.7m facility for Zimbabwe under the bank group’s facility meant to raise food production in Africa to plug supply deficits caused by the war in Eastern Europe.
AfDB’s support to Zimbabwe was part of the 24 fast track programmes approved by the AfDB board of directors last week to help Africa mitigate rising food prices and inflation caused by Russia’s war in Ukraine, climate change and the Covid-19 pandemic.
The first round of approvals is part of the Bank’s US$1.5bn African Emergency Food Production Facility, established in May to boost food security, nutrition, and resilience across the continent.
As of 15 July, AfDB’s board of directors had approved a total of US$1.13bn in mixed financing for Emergency Facility programmes targeting 24 countries: eight in West Africa; five in East Africa; six in Southern Africa; four in Central Africa and one in North Africa.
“This is a landmark week for the African Development Bank and the African Emergency Food Production Facility,” said Beth Dunford, the bank’s vice president for Agriculture, Human and Social Development.
“These programmes will deliver much-needed climate-adapted seeds, access to affordable fertilisers and usher in policy reforms to enable the agriculture sector to supply immediate, medium and long-term solutions to challenges faced in regional member countries.”
For Zimbabwe, the support could not have come at a better time as farmers battle rising input costs amid fears this would derail the 2022/23 agricultural season.
AfDB president Akinwumi Adesina said last week the bank has received requests from 35 countries for this facility.
The Russia-Ukraine war has led to disruption in supply of food supplies with Africa facing a shortage of at least 30m metric tons of food, especially wheat, maize, and soybeans imported from both countries.
Ukraine and Russia supply 30% of the world’s wheat, 20% of the world’s potash – a key fertiliser and nearly half of blended fertiliser.
The African Emergency Food Production Facility will lead to the production of 11m tonnes of wheat, 18m tonnes of maize, 6m tonnes of rice and 2.5m tonnes of soybeans.
It will provide 20 million farmers with certified seeds, fertiliser, and extension services. It will also support market growth and post-harvest management, according to the AfDB.
