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World Bank To Disburse $2.3 billion To 11 African Countries Amid Food shortages

World Bank To Disburse $2.3 billion To 11 African Countries Amid Food shortages

World Bank To Disburse $2.3 billion To 11 African Countries Amid Food shortages

World Bank To Disburse $2.3 billion To 11 African Countries Amid Food shortages

DETAILS IN SUMMARY

  • 11 countries in Southern and East Africa will benefit from the $2.3 billion financing package.
  • The funds would be disbursed in phases, under the World Bank’s Food Systems Resilience Programme.
  • At least, 66.4 million Africans are at risk of being affected by the continent’s worsening food insecurity.

The World Bank has announced intentions to allocate $2.3 billion to aid badly affected countries in Eastern and Southern Africa amid acute food shortages in various regions of Africa.

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According to Business Insider Africa, the funds would be distributed through the World Bank’s Food Systems Resilience Program.

Ethiopia, Madagascar, Comoros, Democratic Republic of the Congo, and Lesotho are among the 11 nations that stand to gain. Others are Zimbabwe, Tanzania, Zambia, Malawi, South Sudan and Mozambique.

World Bank To Disburse $2.3 billion To 11 African Countries 

Two phases would be used to distribute the cash. Ethiopia and Madagascar will each receive $788 million in the first phase. The financial plan is anticipated to assist at least 2.3 million people.

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The final nine nations will take part in the program’s subsequent stages of food security resilience.

The World Bank went on to say that the program’s primary goal is to improve the inter-agency strategies for responding to food crises in African countries, notably by bolstering early warning systems, quick response planning, and emergency support for food producers. In addition, food reserves will need to be built, among other things.

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You should be aware that many African nations are struggling with issues related to food insecurity brought on by both natural and artificial forces, such as drought, war, the pandemic, and most recently, the conflict in Ukraine.

World Bank To Disburse $2.3 billion To 11 African Countries 

We recently published an article detailing some of the countries that are set to experience worsened food crisis in 2022, according to the International Monetary Fund (IMF). We also reported on how people in East Africa are already going through tough economic times as food prices continue to soar to unprecedented highs.

The World Bank said as many as 66.4 million people across Africa could be affected by the escalating food shortage crisis.


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