A representative for the U.S. Agency for International Development (USAID) announced that the United States and Norway will each donate a total of $70 million on Monday to start a fund to support African farmers and agricultural enterprises, which is being reported here for the first time.
THE VIEW
Hunger in Africa has gotten worse due to violent conflict and severe weather that scientists have connected to climate change brought on by fossil fuel use.
At a time when China and Russia are competing with the United States and Europe to win over poor nations, the announcement was made by Norwegian Minister of International Development Beathe Tvinnereim and USAID Administrator Samantha Power, on the sidelines of the U.N. General Assembly.
PER THOUSANDS
The fund may help close to 7.5 million individuals, according to the spokeswoman, and it intends to raise a total of $200 million through additional donations from donors.
Norway and USAID will each contribute $35 million at first. The fund has the potential to support almost 60,000 employees in the private sector, 1.5 million smallholder farmers, and 500 small and medium-sized agricultural businesses.
By lowering investment risk, the fund hopes to encourage hundreds of millions more in commercial finance.
CONTEXT
This year’s rainy season, which was predicted to be unsuccessful for the sixth year in a row, exceeded predictions, preventing famine in some areas of the Horn of Africa. However, according to humanitarian workers, 60 million people in seven East African nations still lack access to food.
Food insecurity has affected millions of people in West Africa as a result of COVID-19, price increases, and climatic shocks.
Key Phrases
Smallholder farmers in Africa only produce enough food to support themselves and their families without the help of these smaller agribusinesses, Power told reporters in a statement.
But when you give them access to a nursery that can provide them with high-quality seeds and fertilizer, a market where they can sell extra harvest or a processor that can help them turn their crops into higher-value goods, all of a sudden they have a chance to take off and produce the agricultural growth that we know is required to fight hunger and poverty.
