The African Improvement Financial institution (AfDB) and the Financial Group of West African States (ECOWAS) Fee have signed a $12 million grant settlement to implement the Rice Resilient Worth Chains Improvement Venture (REWARD) and increase meals safety in West Africa.
The signing ceremony occurred on the ECOWAS Fee Headquarters in Abuja, Nigeria, marking a big milestone in regional meals safety efforts, a press launch on ECOWAS web site acknowledged.
The REWARD mission goals to advertise private and non-private investments in rice worth chains, leveraging profitable enterprise fashions to reinforce native manufacturing.
The initiative is a part of a broader AfDB-funded regional rice growth program masking all 15 ECOWAS member states.
The settlement was signed by ECOWAS Fee President, H.E. Dr. Alieu Omar Touray, on behalf of the regional bloc, and Dr. Abdul Kamara, AfDB’s Director Common for Nigeria, representing the financial institution’s President, Dr. Akinwumi Adesina.
The REWARD mission varieties half of a bigger $650 million multinational program aimed toward guaranteeing rice sovereignty and meals safety throughout the area.
Addressing West Africa’s Rice Deficit
In line with the assertion, rice is a staple meals for hundreds of thousands in West Africa and a key financial commodity.
“Regardless of Africa’s huge agricultural potential, West Africa continues to closely depend on imports to fulfill demand, inserting a pressure on economies and meals programs. With demand anticipated to rise considerably within the coming years, strengthening native rice manufacturing isn’t just a precedence however an pressing necessity,” the assertion famous.
With rice demand anticipated to rise within the coming years, the REWARD mission seeks to bridge this hole by way of coverage reforms, improved agricultural enter regulation, and enhanced regional digital monitoring programs. The ECOWAS Fee, by way of its Financial Affairs and Agriculture Division and the ECOWAS Rice Observatory, will spearhead the implementation of the initiative.
ECOWAS and AfDB’s Dedication
In the course of the signing ceremony, Dr. Touray reaffirmed ECOWAS’ dedication to fast-tracking the implementation of REWARD, emphasizing its alignment with the bloc’s 4X4 Technique, which focuses on regional peace and safety, deeper financial integration, good governance, and inclusive growth.
“I need to categorical my honest appreciation and gratitude, on behalf of ECOWAS and all ECOWAS Establishments, to the President of the African Improvement Financial institution, Dr. Akinwumi ADESINA, for his dedication to the event of the African continent normally and West Africa specifically. Dr. Adesina’s position and dedication to Africa’s growth is thought to all and is extraordinarily appreciated for what he has performed for the continent and ECOWAS area throughout his tenure because the President of the African Improvement Financial institution. Meals and rice manufacturing are a part of meals safety, which can be associated to peace and safety. So, for us, an essential mission akin to REWARD should be carried out quick. The mission aligns with our 4X4 Technique, which is anchored on enhanced regional peace and safety, deeper regional integration, good governance, and inclusive and sustainable growth.” Dr. Touray acknowledged.
Equally, Dr. Kamara reiterated AfDB’s dedication to bolstering meals safety and worth chain growth within the area.
Alignment with Regional and Continental Agricultural Targets
The REWARD-ECOWAS mission is a part of a complete technique to implement the ECOWAS Regional Rice Roadmap (2025-2035) and the Motion Plan of the ECOWAS Rice Observatory. It’s also aligned with the ECOWAS Agricultural Coverage (ECOWAP) and the African Improvement Financial institution’s broader imaginative and prescient of enhancing agricultural productiveness and strengthening regional meals programs.
With this grant settlement, the assertion mentioned, ECOWAS member states now have the chance to rework their rice sectors, safe meals sovereignty, and cut back their dependence on exterior markets. The success of REWARD is not going to solely feed hundreds of thousands but in addition create jobs, stabilize economies, and reinforce the area’s resilience in opposition to future meals crises.
