Mangoa Mosota And Elizabeth Awuor
5 May 2008
Nairobi — The African Development Bank (AfDB) will raise agricultural funding to Africa by Sh62 billion ($1 billion) to help address the food crisis in member countries.
The funding will be raised from Sh236 billion ($3.8 billion) to Sh298 billion ($ 4.8 billion).
AfDB President, Mr Donald Kaberuka, said they had taken the action as part of a short-term action to help address the food crisis in Africa.
Kaberuka said the bank would also restructure some of its agriculture portfolio to provide a rapid disbursement facility to the tune of Sh15.5 billion ($ 250 million).
He urged cereals exporting countries not to suspend their exports because the practice will compromise the existence of about 150 million people in many African states.
"This especially the population of fragile countries, the sick and elderly, " he said.
Kaberuka indicated that the food crisis required urgent and long-term action.
Last week, the World Bank doubled its lending for agriculture in Africa over the next year to Sh50 billion.
The bank's president, Mr Robert Zoellick, said they have taken the action to enhance supply of food in the world's poorest continent.
Meanwhile, Kenya is among African countries set to benefit from a Sh248 million ($4 million) grant for a new knowledge network for programmes.
The International Fund For Agricultural Development (Ifad) will establish FidaAfrique-IfadAfrica that will support networks in Eastern and Southern Africa.
Ifad will contribute half of the funds, Sh125 million, toward the three-year programme.
"The network will connect people, organisations, development projects and programmes, and other networks working to reduce rural poverty across sub-Saharan Africa," said a statement by Ifad.
It added that the network would help people to share experiences, mutual learning and innovation for rural poverty reduction.
It will also increase the development effectiveness of Ifad-financed programmes and projects and enhance policy dialogue.
The network will also build on existing initiatives in Central and Western Africa.
Last year, the agency commenced a Sh4 billion funding of a number of projects. The five-year funding is under the country strategic opportunities programme.
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