ECOWAS commits $25 billion to rice self-sufficiency
By the AFREEQUE newsroom, based on P.M. News
The Economic Community of West African States launches a $25 billion regional programme to achieve rice self-sufficiency by 2035. The financing includes $1.5 billion already mobilised, while a steering committee will oversee the programme until 2035, according to P.M. News.
ECOWAS unveiled a regional rice sector development programme in Abuja on Wednesday with an investment portfolio of about $25 billion, aiming to achieve full rice self-sufficiency in West Africa by 2035. Of this amount, $1.5 billion in firm financing has already been mobilised at a regional conference held in Accra, Dehpue Zuo, ECOWAS Commissioner for Economic Affairs and Agriculture, announced, according to P.M. News.
The programme, known as REWARD, is to finance farmers, businesses, agricultural production and the development of more resilient rice value chains in participating countries. The coordinator of the ECOWAS rice agenda and the REWARD project, Boladale Adebowale, said the region currently covers about 60% of its rice needs and will have to produce nearly 35 million tonnes to meet projected consumption. A steering committee is to oversee implementation of the programme over the 2025-2035 period, according to P.M. News.
Dehpue Zuo called on governments, development partners and private investors to support the initiative. Boladale Adebowale said REWARD would prioritise improving productivity, processing capacity and marketing systems, as well as increasing rice trade between West African countries, P.M. News reports.
