Dakar, 27 January – At the action-driven Dakar 2 Summit, Heads of State will convene meetings to mobilize and align government resources, development partners and private sector financing to unleash Africa’s food production potential. With the removal of barriers to agricultural development aided by new investments, it is estimated that Africa’s agricultural output could increase from $280 billion per year to $1 trillion by 2030. Investing in raising agricultural productivity, supporting infrastructure, climate smart agricultural systems, with private sector investments all along the food value chain can help turn Africa into a breadbasket for the world.
Private sector actors will commit to the development of critical value chains. Central Bank Governors and Ministers of Finance will commit to development of financing arrangements to implement Food and Agriculture Delivery Compacts, working with Ministers of Agriculture, as well as private sector players, including commercial banks and financial institutions. IDA attendance.