• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    To Our Dedicated Readers…
    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
    ….as it strives to Exploit its Supplies of Fossil Fuels £19 Billion Gas Pipeline would pass…13 Countries
    In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan
    African Leaders Lift-off African School of Governance…
    Zimbabwe in Alacrity to Participate in the Forthcoming Minerals Africa Summit in Cape Town South Africa
    Rwanda’s MPs in the Lower House started Nationwide Assessment on progress of the Agricultural Outreach season
    $2.8 Million has been Vitally signed by Grid Africa as an Equity Investment from Rifuwo Energy Partners
    The Elected African Table Tennis Federation Executive Council Agreed on a Memorandum of Understanding with Ethiopian Airlines

    Ethiopia and African Development Bank Group signed $84.3 Million Grant Agreement to Enhance Wheat Production

    Posted On 29 Aug 2023
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Richard Adorsu-

    Photo Credit: Foodista.com

    NEW AFRICA BUSINESS NEWS (NABN) Accra GHANA- African Development Bank Group has awarded grant funding totaling $84.3 million to Ethiopia to advance wheat production and increase farmers’ incomes.

    Ethiopia’s Finance Minister Ahmed Shide and African Development Bank Group Deputy Director General for East Africa, Abdul Kamara, signed the grant agreement for the implementation of the country’s Climate Resilient Wheat Value Chain Development Project (CREW).

    The grant comprises $54 million from the African Development Fund, the Bank Group’s concessional lending window for low-income countries, $20 million from the Government of the Netherlands, $10 million from agribusiness firm OCP Africa, and $300,000 from the Global Center on Adaptation.

    The Ethiopian government will contribute $10 million in counterpart funding for the project.

    The project has three components: Climate Smart Wheat Productivity and Production; Market Infrastructure, Linkages, and Agri-Finance; and Project Coordination and Management.

    Under its flagship Technologies for African Agricultural Transformation (TAAT) initiative, the African Development Bank Group has supported Ethiopia and several other countries across the continent to boost productivity in agriculture.

    CREW was designed to scale up and sustain TAAT’s successful results. The plan, which supports Ethiopia’s wheat self-sufficiency initiatives, will be implemented over five years. The project will benefit 500,000 small-scale farmer households.

    In his remarks during the signing, held in Addis Ababa, Kamara said: “The CREW Project will ensure that farmers in Ethiopia can access agricultural inputs to raise local production of wheat such that supply disruptions resulting from the Russia—Ukraine crisis do not worsen the food security situation already made precarious by Covid-19, climate change and rising cost of living.

    It also seeks to sustain Ethiopia’s exemplary strides in attaining wheat self-sufficiency and export orientation, a model that other African countries should emulate.”

    He added: “The signing of this grant demonstrates the Bank’s unwavering commitment to supporting Ethiopia and its people, and further reaffirms the partnership between the Bank and the government towards achieving Ethiopia’s vision of becoming a lower middle-income country by 2025.”

    On his part, the Minister of Finance, Ahmed Shide, lauded the Bank’s support, underscoring that the project will accelerate and sustain the government’s wheat self-sufficiency initiatives.

    Ethiopia is the second largest wheat producer in sub-Saharan Africa, after South Africa. The country plans to become wheat self-sufficient and net exporter by 2025/26, aiming to produce an additional 4.2 million tonnes of irrigated wheat by deploying proven technologies and
    innovations such as TAAT.

    The grant brings the Bank’s current commitment to Ethiopia to $1.23 billion, covering the key sectors of basic services, energy, transport, water supply and sanitation, agriculture and the private sector.

     

    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    …the growth of the African Landmass Stakeholders Approved for a Single Currency Across Africa

    Next Story

    Some of the West African Countries Committed to Fostering Regional Integration and Socio-economic Development Among Women

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    To Our Dedicated Readers...

    Posted On 04 Nov 2024

    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education

    Posted On 04 Nov 2024

    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023

    Posted On 04 Nov 2024

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    Africa Leader of the Year 2023-2024, Rwanda's President Paul Kagame

    Posted On 21 May 2024

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 15 Feb 2024

    Peace making leader. Congrat Paul...

    Posted On 15 Feb 2024

    Thanks for reading, Africa’s fastest...

    Posted On 15 Feb 2024

    Facebook

    Latest Posts

    To Our Dedicated Readers...

    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education

    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023

    Recent Posts

    • To Our Dedicated Readers…
    • Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
    • The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
    • ….as it strives to Exploit its Supplies of Fossil Fuels £19 Billion Gas Pipeline would pass…13 Countries
    • In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • Obituary
    • Sport

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.