Canada contributes $100M To African Development Bank
Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada, on Wednesday, announced that Canada has contributed $100 million to the African Development Bank (AfDB) to support the growth of small and medium-sized agri-food enterprises (agri-SMEs).
Sajjan emphasized the importance of investing in green agribusinesses, particularly those run by or benefitting women on the African continent. Agri-SMEs produce, process and transport 70% to 90% of the continent’s food, meaning they are major job creators and are key to strengthening African food security, and ensuring that we can support African driven inclusive and green growth, according to a statement.
The funding announced today is provided through the Government of Canada’s International Assistance Innovation Program, which helps accelerate private sector development that contributes to the United Nation’s Sustainable Development Goals.
“We know that the best way to build up food security across the African continent is to work with African small and medium-sized agri-food businesses to help them expand and grow. The funding Canada is providing the African Development Bank will help increase food security across the continent while supporting inclusive and sustainable economic growth,” he said.