A news release on May 24 announced that Canada has contributed $100 million to the African Development Bank (AfDB) to support the growth of small and medium-sized agri-food enterprises (agri-SMEs). 

The Minister of International Development emphasized the importance of investing in green agribusinesses, particularly those run by or benefitting women on the African continent. Agri-SMEs produce, process and transport 70% to 90% of the continent’s food, meaning they are major job creators and are key to strengthening African food security, and ensuring that we can support African driven inclusive and green growth.

The funding is provided through the Government of Canada’s International Assistance Innovation Program, which helps accelerate private sector development that contributes to the United Nation’s Sustainable Development Goals.