According to him, the fund will be used to support farmers with seeds and fertilisers in the next wet season.
He said the aim was to help countries build resilience via investments in infrastructure, known as ‘mission 1 for 200’. The objective is to boost farm output to about 100 million tonnes of food to reach 200 million people.
The Vice President for Power, Energy, Climate and Green Growth of the AFDB, Dr. Kevin Kariuki, spoke on the need to address the energy needs of the continent.
He said, “We do understand that Africa needs to address its energy poverty and in order to look at energy poverty, we need to look at all non-coal sources of energy. Therefore, from where we stand, as long as a gas project has been included in a country, as part of Nationally Determined Contributions… then the bank will invest in those gas power plants,” he said.
Speaking about the theme of the five-day meeting, the Secretary General, AFDB, Vincent Nmehielle “Achieving climate resilience, and a just energy transition for Africa,” said that it was chosen as a guideline to help governors of banks interact and find ways to solve the continent’s climate and energy problems.
In a similar event, the president of the AFDB, Akinwumi Adesina visited Nigeria’s President, Muhammadu Buhari at the Aso Rock Villa and equally shared with him on the bank’s decision to earmark $1.5bn to help farmers increase production to help avert the imminent food crisis brought about by the ongoing war in Europe.