A cash-strapped fund that aims to improve agricultural productivity in Africa is set for a major revamp with plans to raise $2 billion as part of a drive to triple fertilizer use on the continent over the next decade.
The African Development Bank has big ambitions for the fund, which it plans to scale up and transform so that it can help “feed Africa.”
The plan is part of a broader push by African leaders, who in May pledged to triple fertilizer use on the continent over the next decade. The aim is to boost food production and improve the quality of African agricultural soils, which are in decline amid overuse and the effects of climate change.