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Increasing wheat supply: AfDB plans USD 1 billion plan for Africa

22/03/2022
Categories: Raw materials

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The African Development Bank (AfDB) has announced a US$1 billion plan to help increase wheat supply on the African continent.

Wheat imports account for about 90% of Africa's $4 billion in trade with Russia and almost half of the continent's $4.5 billion in trade with Ukraine. This new ADB program comes in the face of the rise in the price of wheat observed on the world market following the disturbances linked to the war between Russia and Ukraine. The accelerated plan aims to boost wheat production in Africa and should be put in place, according to the President of the African Development Bank (AfDB), Akinwumi Adesina, to avoid possible food shortages linked to the Russian-Ukrainian conflict.

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