Zim taps into US$1.5bn AfDB agric facility
NDAMU SANDU
Zimbabwe is set to get US$26.7m from an African Development Bank Group’s (AfDB) facility meant to raise food production in Africa to plug supply deficits caused by the war in Eastern Europe.
Africa is facing food shortages due to disruption caused by the Russia’s invasion on Ukraine under a “special operation”. The war has triggered increase in food prices.
AfDB president Akinwumi Adesina said Zimbabwe will benefit from the bank’s US$1.5bn African Emergency Food Production Facility meant to raise the production of wheat, maize, rice and soybean. The plan will result in the production of 38m metric tonnes of staples.
He said the bank has received request from 35 countries for this facility.
“As of last Friday, 26 of those country requests were submitted to our board for approvals. Zimbabwe is one of the countries that will benefit from the facility. Support for Zimbabwe is planned to be about US$26.7m and will go to our board for approval on the 15th of July,” Adesina said.
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.
