Public Management

Dakar 2 Summit: Senegal seeks US$2.6 bln for its food strategy

Wednesday, 25 January 2023 15:36
Dakar 2 Summit: Senegal seeks US$2.6 bln for its food strategy

(Ecofin Agency) - Earlier this month, the country unveiled its new roadmap to achieve food security by 2029. The plan requires an US$8 billion investment.

Senegal will seek XOF1, 600 billion (US2.6 billion) from financial institutions during the Dakar 2 Summit, Agriculture Minister Ngouille Ndiaye announced last Tuesday. According to the government official, the financial resources will fund up to 30% of the country's 2024-2029 food strategy.

The event, which starts today  January 25, will be held until January 27 at the Abdou Diouf International Conference Center (CICAD) in Dakar on the theme"Feeding Africa: food sovereignty and resilience".

The 2024-2029 strategy requires a XOF5,000 billion (US$8.3 billion) investment. It mainly focuses on increasing cultivated areas and diversifying agricultural production to reduce food imports in the long run.

"Dakar 2 is an action-oriented continental event, engaging African Heads of State and government to mobilize resources from governments, technical and financial partners, the private sector, and local authorities to harness Africa's agricultural and food potential. Leading experts in various fields including agriculture, livestock, fisheries, cooperation, and finance will be part of the summit," Minister Ndiaye explains.

In Senegal, the agricultural sector contributes up to 15.3% of the GDP and provides jobs to close to 30% of the active population.

Stephanas Assocle (Intern)

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