The African Development Bank (AfDB) is seeking partnership with African governments and financial institutions to design an innovative mechanism which will increase agricultural financing.
It’s in this line that AfDB will host a workshop on ‘Establishing an African Agriculture Risk Sharing and Financing Mechanism’ from July 12-13 in Nairobi. According to AfDB, the workshop will be an opportunity for key stakeholders to contribute to the proposed facility’s modalities in sharing risks around financing agriculture value chains.
“The future of Africa belongs to the youth and entrepreneurship. We have to invest in agriculture diversify the sector… potentials must be unlocked to feed the population, be competitive on the global market and create jobs for our people,” said Akinwumi Ayodeji Adesina, the President of AfDB.
A statement from AfDB adds that the workshop will also present global and Africa-wide lessons learned and best practices in the design of a workable, context-based mechanism for the continent.
The conference will bring together policymakers, including senior officials of ministries of finance, agriculture, central banks, commercial banks and other financial institutions among others.
The participants will be able to exchange knowledge and experiences on successful agriculture risk sharing mechanisms across Africa, build a consensus on the conceptual framework on risk sharing.