ECOWAS launches $650 million rice project
By the AFREEQUE newsroom, based on Daily Trust
The ECOWAS Commission has launched the REWARD project, a $650 million programme for the rice value chain, with the aim of reaching 35 million tonnes of rice by 2035. A regional steering committee has been established to oversee its implementation from 2025 to 2035, with the project supported by the African Development Bank.
The Commission of the Economic Community of West African States (ECOWAS) has launched the Resilient Rice Value Chain Development Project (REWARD), with an estimated budget of $650 million, according to Daily Trust. The programme aims to strengthen rice production, processing and marketing in order to improve the competitiveness of rice produced in West Africa.
The project will be overseen by a regional steering committee responsible for its implementation over the 2025-2035 period. It is supported by the African Development Bank (AfDB) and receives technical assistance from AfricaRice, a research centre specialising in rice. The ECOWAS Commission said the region would need about $25 billion in investment to reach a target of 35 million tonnes of rice by 2035 and strengthen its self-sufficiency.
Dephue Zuo Dephue, ECOWAS commissioner responsible for economic affairs and agriculture, said an investment meeting held in Accra had mobilised about $1.5 billion in commitments, expressions of interest and ongoing discussions. The funding is intended in particular to support farmers, value-chain businesses and regional production.
The 2025-2035 regional rice roadmap puts investment needs at $25.6 billion and provides for action on fertilisers, irrigation, quality inputs, processing, financing and market access. The launch follows ECOWAS’s commitment to mobilise $25 billion to achieve regional rice self-sufficiency, announced on November 11.
