According to a communiqué released during the African Food Summit, which runs until Friday in Dakar, the Food Production Compact launched by the AfDB for dozens of countries in Africa, including Angola, includes specific goals and objectives for each country, pointing out the main priorities in terms of increasing production.
In the case of Angola, the AfDB says that "the implementation of the Compact will directly contribute to increasing production and productivity, improving food security and nutrition, in line with the Government's strategy to transform Angolan agriculture and livestock into a prosperous sector and a driving force for inclusive growth and economic diversification".
The priority production areas are rice, wheat, maize, soybeans and poultry, and the bank stresses that "the financing and implementation of the Compact will depend on an ambitious plan to attract private sector investors to the agricultural sector".
The execution of the plan "will require an investment of 5.7 billion dollars, to be obtained through an ambitious plan to attract investors from the sector; it is estimated that direct public investment by the Government of Angola will be 60 million dollars, attributed to the financing of investments in rural infrastructure", the document concludes.
AfDB mobilizes 10 billion dollars for food production in Africa
The AfDB president announced that he will allocate 10 billion dollars over the next five years to boost food production, through specific programs designed for each country.
"The AfDB Group is committing 10 billion dollars over the next five years to boost Africa's efforts to end hunger and become a staple food provider for itself and the rest of the world," reads a communicated.
With the presence of more than 30 heads of state and 70 ministers and representatives of the private sector and development partners, the Dakar 2 Food Summit is held jointly by the AfDB and the Government of Senegal, with the presentation of several Compacts designed taking into account the specificity of each country, including the Portuguese-speaking Angola, Cape Verde, Equatorial Guinea, Guinea-Bissau and Mozambique.