The African Development Bank (AfDB) said March 17 in Abuja that it had earmarked $2 billion for the development of agriculture in Africa in the next five years. AfDB President Donald Kaberuka made the disclosure in at the close of the three-day High Conference on Agric-business and Agro-industries in Africa. He said the money would be given out as credits to countries to boost agricultural infrastructure, with emphasis on water mobilization and rural infrastructure. “Investment in agriculture must go beyond farming to include agric business,” Kaberuka said. This Day of Nigeria adds that also at the conference “…UN Economic Commission for Africa (UNECA) Undersecretary-General Abdoulie Janneh said food imports from the developed world into the African continent annually gulp $33 billion. This, he said, is besides the $3 billion which comes in the form of aid from international donor agencies. He said the continent has had to resort to food imports to bridge the gap between domestic food supply and demand which is mainly fueled by urban demand for processed food. Meanwhile, The Mail notes that more than 200 million people in Africa are malnourished and the continent requires $620 billion to feed its people in the next 40 years, Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi said at the conference.

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