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| African Development Bank |
The President, African Development Bank (AfDB), Dr. Akinwumi Adesina has emphasized that food, in quantity and quality, is the right of every human being, noting that what is most important is the safety of the belly.
Adesina who disclosed this at the just concluded conference on agriculture and agribusiness with the theme “Feeding Africa” held in Dakar, said Africa is ready to molt agriculture in a commercial enterprise – a transformation that requires the diversification of the agricultural sector.
The AfDB President is convinced that “Africa has to be the breadbasket of the world, however in order to achieve this, she must release her full potential and make a radical transformation of agriculture.
Adesina stated that according to estimates, the bill for food imports in Africa totaled US $ 35 billion annually. This he said should encourage Africans to develop her agricultural sector and dedicate the budget devoted to food imports to something else.
He called on the Central Banks and Development Banks to lend to the agriculture sector saying “Giving credit to agriculture is profitable” while also urging the Banks to investment in rural infrastructure.
“We must modernize agriculture in Africa”, the AfDB President said, adding that this will enable the youths to invest their energy in the sector. To address this therefore, Adesina has called for investment and development of the processing sector which helps to reinforce food security, reduce poverty, boost exports and promote economic growth, while he appealed to all Africans, to eradicate extreme poverty, hunger and position Africa in the global value chain.
Adesina had earlier announced the intention of the Bank to launch a “New Deal” for energy in Africa, so as to fill the gap which suffers the continent and hinders its development.
It may interest you to know that AfDB and its development partners will commit US $ 300 million to finance a fund to support women working in agriculture in Africa.
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