Public Management

East-South Africa: World Bank approves program to fight food insecurity

East-South Africa: World Bank approves program to fight food insecurity
Thursday, 23 June 2022 17:07

The initial US$788.10 million phase of the program will target Ethiopia and Madagascar, two countries hit hard by drought. 

The World Bank announced Tuesday (June 21), a US$2.3 billion program to help Eastern and Southern African countries fight food insecurity.  

According to the multilateral financial institution, by next month, 66.4 million people will experience food stress, crisis, emergency, or famine in the two beneficiary regions.  “Food system shocks brought on by extreme weather, pest and disease outbreaks, political and market instability, and conflict are becoming more frequent and severe, putting more people at risk of food insecurity. The war in Ukraine is further exacerbating these effects by disrupting the global food, fuel, and fertilizer markets,” it explains. 

The project will be implemented in phases, we learn. The first phase will target Ethiopia, where an estimated 22.7 million people are food insecure due to severe drought, and Madagascar, where 7.8 million people are also in need of food assistance due to drought in the south.  With total funding estimated at US$788.10 million, the program's initial phase is expected to benefit 2.3 million people.  

Other countries will benefit from subsequent phases of the program, which will also strengthen inter-institutional food crisis response strategies, including strengthening early warning systems and rapid response planning, emergency producer support, emergency trade measures, and emergency food reserves building.

The project “ is the first regional and multi-sectoral operation focusing on reducing the number of food-insecure people in Eastern and Southern Africa by increasing the resilience of food systems and preparedness to combat rising food insecurity. It supplements a similar program that the Bank approved recently for Western and Central Africa,”  said Hafez Ghanem (photo), World Bank Vice President for Eastern and Southern Africa.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Chari raises record $12M Series A to expand fintech services Secures central bank license to launch super-app for merchants Moroccan...
Burkina Faso orders NGOs to use state-run bank for all funds Move follows arrests, aims to tighten oversight of foreign NGOs Burkina Faso issued...
The International Finance Corporation (IFC) plans to invest up to $25 million in the African Transition Acceleration Fund (ATAF). The fund aims...
Tunisia seeks $3.7B loan from central bank in 2026 Economists warn of inflation, liquidity risks from domestic borrowing IMF talks stalled;...

Most Read
01

Indorama to invest $210M in Senegal phosphate sector upgrade ICS to expand fertilizer, acid ...

Indorama, Petrochemicals Major, to Invest $210 Million in Senegal Fertilizer Plant
02

• Parliament approves Virtual Asset Service Providers Bill 2025 to regulate digital assets• Central ...

Kenya passes landmark law to regulate booming cryptocurrency market
03

• The five-year plan allocates 388 billion pulas to boost growth and jobs.• Focus areas include tran...

Botswana unveils $27bn plan to accelerate economic diversification
04

• World Bank raises 2025 growth forecasts for Benin, Mali, Burkina, Côte d’Ivoire• Senegal and Niger...

World Bank Revises Up 2025 Forecasts for Four WAEMU Countries, Amid Falling Inflation
05

Copper prices hit $10,775/t, their highest since May 2024, driven by a weak dollar and recent...

Copper Prices Extend Gains Close to Record Highs, Improving Prospects for Zambia and the DRC
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.