{"id":41048,"date":"2012-05-22T13:00:49","date_gmt":"2012-05-22T13:00:49","guid":{"rendered":"http:\/\/www.sierraexpressmedia.com\/?p=41048"},"modified":"2012-05-22T13:00:49","modified_gmt":"2012-05-22T13:00:49","slug":"afdb-president-welcomes-g8-initiative-on-african-agriculture","status":"publish","type":"post","link":"https:\/\/sierraexpressmedia.net\/?p=41048","title":{"rendered":"AfDB President Welcomes G8 Initiative on African Agriculture"},"content":{"rendered":"

WASHINGTON, May 21, 2012 – <\/strong>African Development Bank President Donald Kaberuka (http:\/\/www.afdb.org<\/a>) capped a visit to Washington with a landmark meeting at the Group of Eight (G8) Summit on Saturday.<\/p>\n

The special session focused on agriculture policy in Africa, and in particular, a fresh initiative called the New Alliance for Food Security and Nutrition.<\/p>\n

The meeting was hosted by U.S. President Barack Obama at Camp David near Washington, where this year\u2019s G8 Summit of the world\u2019s largest economies took place.<\/p>\n

Participants included the G8 leaders, four African heads of state and executives from the private sector.<\/p>\n

\u201cWith so much for the G8 leaders to discuss,\u201d said AfDB President Kaberuka, \u201cI commend President Obama for putting agriculture investment in Africa on the agenda.\u201d<\/p>\n

One of the main objectives of the new initiative is to encourage the private sector to invest more in the continent\u2019s agriculture sector.<\/p>\n

Indeed President Obama has announced that more than $3 billion has already been pledged in private sector investments. African and G8 governments will also commit funds to spur growth.<\/p>\n

\u201cThis is a win-win proposition,\u201d said Kaberuka. \u201cA prosperous, growing Africa is good for the global economy.\u201d<\/p>\n

He went on to say: \u201cThis is a collective endeavour involving governments, the private sector and public investment to spur economic growth on the continent.<\/p>\n

The African Development Bank is ready to play its part by ensuring conditions such as reliable infrastructure are in place.\u201d<\/p>\n

In a statement released on the eve of the Camp David meeting, the White House said that it would work with the people and leaders of Africa to \u201cIncrease 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.\u201d<\/p>\n

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President Kaberuka at Camp David (Sunday May 20, 2012)<\/p><\/div>\n

The White House statement went on to welcome the support of the African Development Bank and other development agencies.<\/p>\n

In the last few days there has been an intense focus on ways to encourage greater innovation and private sector investment in the agriculture sector across Africa.<\/p>\n

The New Alliance for Food Security and Nutrition was launched at a symposium in Washington on Friday, bringing hundreds of individuals and organizations together to discuss the way forward.<\/p>\n

In a nod to the high-level support for the initiative, speakers at the symposium included President Obama, U.S. Secretary of State Hillary Clinton, the leaders of Benin, Ethiopia, Ghana and Tanzania, and AfDB President, Donald Kaberuka.<\/p>\n

They spoke about the opportunities that exist in Africa and the yields that greater agricultural output could bring, not just in the food sector.<\/p>\n

\u201cThis is not only a moral imperative, but an economic and security imperative as well,\u201d said President Obama.<\/p>\n

He added that the overall goal is to bring 50 million people out of poverty. This, he said, would improve lives, economies and security around the world.<\/p>\n

AfDB President Kaberuka told the audience that although African agriculture has underperformed for many years, that\u2019s beginning to change as many governments put market policies and conditions in place.\u201d<\/p>\n

Through improved infrastructure, transportation and trade, Africa can make significant headway, he said.<\/p>\n

The African Development Bank Group\u2019s mission is to help reduce poverty, improve living conditions for Africans and mobilize resources for the continent\u2019s economic and social development.<\/p>\n

Current and future projects and priorities will be discussed at the organization\u2019s Annual Meetings in Arusha, Tanzania from May 28th to June 1st.<\/p>\n

The theme of the meetings will be \u201cAfrica and the Emerging Global Landscape: Challenges and Opportunities.\u201d<\/p>\n

Distributed by the African Press Organization on behalf of the African Development Bank.<\/em><\/p>\n

Stay with Sierra Express Media, for your trusted place in news!<\/em><\/strong><\/p>\n

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