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
Net profit jumps 117% to $183 million, driven by subsidiaries Lower credit risk and controlled costs boost earnings Bank strengthens balance...
Guinea raises mandatory repatriation of mining export revenues to 60–70%, from 50% Government introduces stricter financial controls to boost foreign...
Inflation slowed to 9.7% in February 2026, maintaining single-digit levels since December 2025 The central bank maintained its tight monetary policy...
Kenyan banks lent 326.5 billion shillings to MSMEs in 2025 Lending exceeded 150 billion target, driven by industry initiatives Rising...
Most Read
01

Novo Nordisk cuts Wegovy prices in South Africa amid competition Move targets rival Eli Lil...

Drugmakers ramp up competition in South Africa’s obesity treatment market
02

Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...

African fintechs are moving beyond payments - and into business operations
03

The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...

West Africa Targets Diaspora Funds With New Banking Access Rules
04

WAEMU posts 3.31 trillion CFA francs trade surplus in Q4 Exports surge 50.4%, led by gold, ...

WAEMU Trade Surplus Widens to $5.8 Billion in Q4 2025 on Strong Export Gains
05

ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...

ECOWAS, China Discuss Cooperation on West Africa Power Projects Under $36.39B Plan
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.