Donors pledge $17 million to Africa Solidarity Trust Fund

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. Click here to become one of our members and help us keep our quality news free and available for all.

African and non-regional donors on Tuesday pledged $17 million to replenish the Africa Solidarity Trust Fund, an initiative which aims to provide food security and eliminate rural poverty on the continent.

The pledges were made at a high-level donor round table convened by the United Nations Food and Agriculture Organisation (FAO) and Equatorial Guinea President Obiang Nguema Mbasogo, on the sidelines of the African Development Bank’s (www.AfDB.org) 2019 Annual Meetings currently underway in Malabo, Equatorial Guinea.

Opening the conference at the Sipopo conference center Equatorial Guinea President Obiang Nguema Mbasogo said the Fund illustrated “a turning point in the fight against food insecurity” and said his tiny oil-rich nation had donated generously out of its oil revenues to show solidarity to African countries.

The Fund, an initiative of the United Nations Food and Agriculture Organisation, received its start-up contribution of $30 million from Equatorial Guinea, the host nation of this year’s meetings and Angola, which gave $10 million. Its projects have been lauded for providing innovative solutions for African agriculture and food systems.

Speaking on behalf of African Development Bank President Akinwumi Adesina, Bank Vice President Agriculture, Human and Social Development, Jennifer Blanke said Africa faced challenges in the area of agriculture and food production, relying heavily on food imports.

“It’s so important that ASTF is showing that African countries are contributing to Africa..that links very closely to what we are doing,” Blanke said, adding that the Bank’s commitment to providing farmers with technologies to help improve their yields.

The donor conference was attended by the presidents of Mauritania, Guinea Bissau, the prime minister of Eswatini and several high-ranking diplomats, ministers and development and banking institutions.

The theme of the Bank’s meetings this year is “Regional Integration for Africa’s Economic Prosperity.” The push for regional integration has gained momentum with the ratification of the agreement on the African Continental Free Trade Area( AfCFTA) in March 2018, which is now at the threshold of its launch in July.

“You can count on us that we will be very involved,” she said.

Ms Maria Helena Semedo, Deputy Director-General of FAO who represented FAO head José Graziano da Silva, commended the Fund for its results. The Fund has led to the successful implantation of 18 projects that have benefitted 41 countries and hundreds and thousands of beneficiaries, including 160 vulnerable households in Niger who saw transformation and grants which enabled a rapid response to populations affected in the Ebola outbreak in west Africa in 2014.

“We celebrate the success of the ASTF …the excellent results of the fund over the last 5 years is living testimony,” Semedo said, describing it as a flagship initiative and one of the most successful funding initiatives in FAO. She said the generosity of the donors was unique evidence of strong solidarity between African countries.

The meeting raised a total of $17 million – $10 million from Angola, $2.6 million, from China, Euros 2 million from France, $2 million from Equatorial Guinea and $100,000 from Zimbabwe.

Read full article

TODAY NEWS AFRICA
TODAY NEWS AFRICAhttps://todaynewsafrica.com
TODAY NEWS AFRICA is registered and headquartered in Washington, District of Columbia, United States of America. Our publication is widely read, respected and influential. By providing daily answers to questions our readers have about the people, the businesses and the continent of Africa, we are reaching a diverse and wide audience from around the world. Our readers, many of them world leaders, trust us because we are independent and truthful. Our advertisers understand the difference between news, views and ads. Contact us: [email protected]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

MOST POPULAR

239 scientists from over 30 countries urge WHO to tell the world about airborne spread of coronavirus

At least 239 scientists from over 30 countries are urging the World Health Organization to address the airborne transmission of COVID-19, a...

SEE IT: Certified true copy of the conviction of Nigeria’s House of Representatives Speaker Femi Gbajabiamila in the United States for $25,000 theft

The Speaker of the Nigerian House of Representatives Femi Gbajabiamila was convicted in the state of Georgia in the United States...

WHO warns access to HIV medicines severely impacted by COVID-19 as AIDS response stalls

Seventy-three countries have warned that they are at risk of stock-outs of antiretroviral (ARV) medicines as a result of the COVID-19...

Nigeria’s anti-corruption czar Ibrahim Magu who was arrested for financial fraud on Monday expected to be arraigned in court and removed from office after night in police custody

Nigeria's anti-corruption czar Ibrahim Magu who was arrested for alleged financial fraud on Monday is expected to be arraigned in...

Coronavirus update: Zambia, Ivory Coast and Malawi

Coronavirus numbers keep changing in Africa where more than 6200 people have now died and more than 233000 have contracted the...
- Advertisement -

LATEST STORIES

African Development Bank forecasts economic turmoil for East Africa in 2020 amid COVID-19 pandemic with growth shrinking from 5 percent to 0.2 percent in worst-case scenario

The African Development Bank has forecast an economic turmoil for East Africa in 2020 amid COVID-19 pandemic, with projected growth tumbling...

Nigeria presidency releases statement on the suspension of anti-corruption czar Ibrahim Magu, says no one is above the law

The Nigerian presidency on Saturday evening released a statement on the suspension of Ibrahim Magu, the acting chairman of the Economic...

African Development Bank forecasts economic tumult for West Africa in 2020 amid COVID-19. Growth to shrink by 2 percent

Economic growth in West Africa, which was poised to expand by 4.0 percent in 2020, following growth of 3.6 percent in...

South African president declares special provincial official funeral for late Queen Noloyiso killed by COVID-19

President Cyril Ramaphosa of South Africa has declared a Special Official Funeral Category 1 as a final farewell for the late...

African Development Bank President Akinwumi Adesina pens emotional tribute to late Ivory Coast Prime Minister Amadou Gon Coulibaly

July 8 was all like every normal day, focused on work. I had no inkling there would be a storm, even...

[/read_more]

Read full article

error: Alert: Content is protected !!
Share
Tweet
Share
Pin
WhatsApp