The Global Agriculture and Food Security Fund has named Ethiopia, Niger and Mongolia as recipients of its second round of grants.
The grants total USD97 million: USD51.5 million for Ethiopia, USD33 million for Niger, and USD12.5 million for Mongolia.
“Today’s announcement demonstrates the promise of the Global Agriculture and Food Security Program,” said Treasury Secretary Tim Geithner. “These investments will improve access to better seeds and soil, build rural infrastructure and connect farmers to markets. While three countries have been granted funding, many more compelling proposals were not financed due to lack of resources. In order to sustain this fund, we urge our G-20 colleagues to join us in this endeavor.”
The U.S. is one of the fund’s partners, along with Australia, Canada, South Korea, Spain, and the Bill & Melinda Gates Foundation.
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As reported by Devex, the fund’s first round of grants worth USD224 million went to Bangladesh, Haiti, Rwanda, Sierra Leone and Togo.
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In a press release, the African Development Bank said it will oversee the implementation of the grant for Niger and co-manage the funding for Ethiopia with the World Bank.