The Executive Committee of the multi-donor, interregional Arab-Africa Trade Bridges Programme on Thursday unveiled a US$1.5 billion food security program to address the concerns of food insecurity in the Arab and African regions.
According to BusinessDay, the crisis continues to be a major priority on the international development agenda and is one of the biggest challenges the world is now experiencing.
The numerous AATB programme partners as well as esteemed regional and local media outlets attended the hybrid launch ceremony, which was held on Thursday, July 6, 2023, at the African Export-Import Bank headquarters in Cairo.
In order to implement focused engagements that address the unique difficulties encountered by member nations, AATB is emphasizing its special interest in the food industry. This will allow AATB to take advantage of its knowledge, resources, and partnerships.
The four AATB Programme pillars – Trade, Investment, Insurance, and Infrastructure are the foundation of the Food Security Programme.
The program includes capacity development and technical support, which acts as a unifying theme and an enabling element.
The program also promises to offer financed and unfunded financial transactions relevant to food security.
The program’s main goal in the short term is to meet the member countries’ immediate needs for food security.
It also promises to create resilient and sustainable food systems that guarantee the accessibility, affordability, and availability of wholesome food for everyone by luring investments, improving infrastructure, maximizing value chains, and encouraging cooperation.
These actions will promote the region’s overall socioeconomic development and long-term food security.
