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#AfDBAM2020: What's the next phase for AfDB's strategy for agriculture?
The realities brought about by the COVID-19 pandemic means, Africa has to re-strategize to meet its development needs. As the African Development Bank enters a new chapter with the re-election and swearing-in of Dr Akinwunmi Adesina, Martin Fregene, AfDB’s Director for Agriculture and Agro-Industry joins CNBC Africa to discuss what this means for the bank’s agriculture strategy for Africa.
Wed, 02 Sep 2020 14:29:09 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Continuation of the Feed Africa initiative under Dr. Adesina's leadership
- Emphasis on building resilience and supporting SMEs in the agriculture sector
- Focus on climate change adaptation and risk capacity management
The African Development Bank is gearing up for a new chapter as Dr. Akinwunmi Adesina has been re-elected. The bank's Director for Agriculture and Agro-Industry, Martin Fregene, sat down with CNBC Africa to discuss the implications of this re-election on the bank's agriculture strategy for Africa. The COVID-19 pandemic has brought about the need for Africa to re-strategize to meet its development needs. With Dr. Adesina's re-election, the Feed Africa initiative, which aims to reverse the declining trend in agricultural production and consumption in Africa, will continue to be a priority for the bank. This initiative focuses on increasing productivity through the implementation of new agricultural technologies, the establishment of special agro-industrial processing zones, and the creation of an enabling environment through policy interventions. The bank's goal is to ensure that farmers across the continent have access to the latest crop varieties and livestock breeds to boost their productivity.
In response to the challenges posed by the COVID-19 pandemic, the African Development Bank will emphasize building resilience among farmers and supporting small and medium enterprises (SMEs) that play a vital role in food production in urban areas. Climate change has contributed to harsh environments, land degradation, and instability in regions like the Sahel, Horn of Africa, and Southern Africa. To address these issues, the bank will focus on initiatives to build resilience, such as promoting drought-tolerant crops, implementing collaborative agricultural practices, capturing and efficiently using water resources, and integrating crop-livestock systems to enhance farmers' resilience and economic well-being. Additionally, the bank has been appointed by the United Nations to host the global center for climate change adaptation, signifying its commitment to climate action.
Furthermore, the bank is working on enhancing risk capacity management by assisting countries in paying premiums for climate-related risks such as flooding and drought through the African Risk Capacity program. By providing compensation to countries facing such risks, the bank is helping them mitigate the financial impact of climate change events. Small and medium enterprises remain a focus for the bank, with efforts directed towards providing financing and strengthening supply chains to support these essential actors in the food production chain.
As Africa continues to face the challenges brought about by the COVID-19 pandemic and the ongoing impacts of climate change, the African Development Bank remains committed to supporting the continent's agriculture sector and ensuring food security for its population. With a renewed mandate under Dr. Adesina's leadership, the bank's agriculture strategy will continue to evolve to meet the changing needs of African farmers and communities.
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