Obama to announce $3 billion food security initiative for Africa

Friday, May 18, 2012
Washington: United States President Barack Obama will announce a new food security initiative for African region on Friday ahead of the G-8 summit.

‘The New Alliance for Food Security and Nutrition’ is a shared commitment to achieve sustained and inclusive agricultural growth and raise 50 million people out of poverty over the next 10 years by aligning the commitments of Africa’s leadership to drive effective country plans and policies for food security. 

This initiative would bring together nearly 45 private sector companies that have pledged to invest around $3 billion.

“In partnership with Africa’s people and leaders, our goals are to increase responsible domestic and foreign private investments in African agriculture, take innovations that can enhance agricultural productivity to scale, and reduce the risk borne by vulnerable economies and communities.  We recognize and will act upon the critical role played by smallholder farmers, especially women, in transforming agriculture and building thriving economies,” informed the statement issued by the White House.

'The New Alliance' is built on the Promise of L’Aquila summit, where G-8 nations committed to act with the scale and urgency needed to achieve sustainable global food security.
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