The African Development Bank (AfDB) continues to roll out initiatives to cushion farmers from the effects of the high price of some farm inputs occasioned by the high fuel prices: The Bank Group is launching a facility to subsidize farmers battling high fertiliser costs and help them boost production as food prices surge. In affirming that some sort of fertilser subsidy system would have to be put in place to curb the food crises in Africa the Bank’s President, Donald Kaberuka, also stated that this system would have to be market-smart and targeted and that it may require public finance supported by international institutions. The bank hopes to raise about $500 million in funding for the facility within six months.
http://www.bdafrica.com/index.php?option=com_content&task=view&id=7650&Itemid=5811
Thursday, 29 May 2008
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