Ukraine war creates woes, also an opportunity for Africa, development bank president says - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The African Development Bank (AfDB) is aiming to raise $1 billion to rapidly ramp up agricultural production in Africa and stave off a potential food crisis brought on by Russia’s invasion of Ukraine, its president told Reuters on Friday.

African Development Bank President Akinwumi Adesina speaks during an interview with Reuters in Johannesburg, South Africa, March 25, 2022.African Development Bank President Akinwumi Adesina speaks during an interview with Reuters in Johannesburg, South Africa, March 25, 2022.

During the coronavirus pandemic, Africa has not seen infection rates and deaths on the same levels as many more developed regions. Its economies, however, have been battered and its rebound has proven sluggish. To avoid a food crisis, he said the AfDB was planning to launch an emergency food production plan that would focus on rapidly boosting wheat, maize, rice and soybean output on the continent.

The bank plans to raise $1 billion needed to fund the initiative from various emergency support facilities, concessional financing and from the IMF’s proposed $50 billion resilient sustainability fund.ALTERNATIVE TO RUSSIA

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 /  🏆 37. in TH
 

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Africa has resources to fully supply her people. Indeed why wait for crises before making business for your own people and create jobs on your own. Wake up Africa and Stop corruption.

Africa it a joke why to always wait for something to happens to make a plan ? Why can't we be independent once at all ... Africa wake-up be a Man.

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