The African Development Bank (AfDB) and its partners have voted $1 billion to fund special agro-industrial processing zones in 24 States of the nation.
Other partners that voted for the money include the Islamic Development Bank and the International Fund for Agricultural Development.This was announced on Friday by the AfDB President, Dr. Akinwumi A. Adesina, at the Norman Borlaug International Dialogue, World Food Prize 2023, in Des Moines, Iowa, United States of America.
“We are investing heavily in the development of SAPZs to support the development of agricultural value chains, food processing and value addition, enabling infrastructure and logistics to promote local, regional, and international trade in food,” he stated. “For example, the African Development Bank, Islamic Development Bank, and the International Fund for Agricultural Development provided $520 million for the development of 8 special agro-industrial processing zones in Nigeria. The second phase of the program aims to mobilize an additional $1 billion to deliver special agro-industrial processing zones in 24 States of Nigeria.
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