AfDB Unveils Initial Food Security Projects

Amid the impact of the global financial meltdown coupled with food insecurity, the African Development Bank increased its funding for agricultural activities by USD1 billion. It also created a rapid disbursement facility worth USD250 million. The bank gave USD59.12 million to Ethiopia and USD5.13 million to Rwanda to buy fertilizers and boost crop production in the two countries. (“AfDB Response to the Food Crisis - First Batch of Projects” - Sponsor Wire, Nov. 17, 2008)