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.
Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
MTN Mobile Money Zambia partnered with Indo Zambia Bank to enable payments via bank POS terminals....
UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
Angola, EU sign €50 million Agrinvest deal for Lobito Corridor Project targets agriculture, jobs, and value chains across key...
Togo to receive fuel shipments from Nigeria’s Dangote refinery Refinery exports 456,000 tons to five African countries Move aims to cut...
Sunil Bharti Mittal to step down as chairman in July Gopal Vittal appointed to lead as part of planned succession Transition comes amid rapid growth...
Koryx adds gold and molybdenum to Haib resource estimate Update points to stronger profitability and longer mine life New prefeasibility study...
AI forces newsrooms to balance automation with credibility and trust Agentic AI boosts efficiency but risks scaling disinformation...
Kumbi Saleh is regarded as one of the earliest major political and commercial capitals of West Africa. Located in present-day Mauritania, near the border...