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
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs), enabling them to offer regulated capital markets...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the BCEAO and ECOWAS financial systems. Ministers from...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables tap-to-pay on POS terminals for the first...
(UMOA-TITRES) - UMOA-Titres announces the organisation of the 8th edition of the Regional Public Securities Market Meetings (REMTP), to be held on 27–28...
Most Read
01

Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...

Kenya targets UK market to boost mango exports
02

Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...

Beyond Online Checkouts: Apple Pay Finds a Second Row into Nigeria via Nomba
03

Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...

Safaricom and Airtel Money Licensed to Facilitate Capital Markets Access in Kenya
04

In Africa, the transformation of food systems has become an urgent issue in the face of rapid popula...

AGRA’s Lilial Githinji “Leadership capacity remains the missing ingredient in Africa’s food systems transformation”
05

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
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.