The African Development Bank (AfDB) will release an additional $27.41 million to implement Phase II of its flagship agricultural initiative, Technologies for African Agricultural Transformation (TAAT).
This is aimed at increasing farming households’ productivity and incomes by giving them access to climate-resilient technologies in 36 low-income African countries, by 2025.
The decision to make this new disbursement was taken in Abidjan by the Bank Group’s Board of Directors, according to a press release issued by AfDB.
The decision is part of the Bank’s $1.5 billion African Emergency Food Production Facility, a continent-wide initiative to avert an impending food crisis exacerbated by the war in Ukraine.
Launched in 2018, TAAT, a major continent-wide initiative, aims to boost agricultural productivity in all parts of Africa.
With this additional new funding, TAAT-II will work in partnership with African countries to support the implementation of the $1.5-billion African Emergency Food Production Facility.
All 36 low-income countries covered by the African Development Fund, the Bank Group’s concessional arm, are eligible to apply for TAAT-II, which continues the goals of TAAT-I: to increase agricultural productivity and household incomes by extending access to climate-resilient technologies, especially in low-income African countries, by 2025.
TAAT-II will support these countries to implement the Facility through policy and institutional reforms designed to accelerate the provision of fertilizers and climate-resilient seeds.
Building on the results of TAAT-I, TAAT-II will strengthen national and regional seed-production systems to provide farmers with sufficient climate-resilient seeds, using a market-based model and helping local private sectors to spread technologies and services (seeds, fertilizers, extension) on a larger scale in villages.
Dealing with challenges
The statement quoted the Bank’s Vice-President for Agriculture and Human and Social Development, Beth Dunford, saying “the Bank is well positioned to harness the power of the science, knowledge and innovation needed to catalyse Africa’s agricultural transformation through this investment. The Bank already has extensive experience in agricultural development assistance in Africa and this additional funding will help us to consolidate the achievements of TAAT-I.”
“TAAT-II will help to address the challenges of strategic and economic diversification and will support the implementation of national strategies to boost agriculture and agribusiness to create jobs (green jobs), especially for young people and women,” she continued.