The International Fund for Agricultural Development (IFAD) and the East Africa Development Bank (EADB) have signed a cofinancing agreement aimed at expanding their impact through joint investment in rural development and food systems transformation across East Africa. The agreement was formalized during the UN Food Systems Summit +4 Stocktake held in Addis Ababa, Ethiopia.
This collaboration will enable both institutions to cofinance IFAD’s ongoing projects throughout the East African region. IFAD currently focuses over half of its operations in Africa, with nearly US$2.3 billion invested in 51 projects across 22 countries in East and Southern Africa. The agreement aims to leverage public development bank financing to enhance food systems, making them more sustainable, inclusive, and resilient.
The partnership will mobilize additional resources to support agricultural value chains, rural infrastructure, and climate adaptation, with a focus on small-scale farmers and rural communities. It seeks to improve rural livelihoods and ensure long-term sustainability through better access to financing and infrastructure development.
This strategic collaboration highlights the potential of regional cooperation to address food insecurity and rural poverty. With roughly one in five Africans unable to afford a healthy diet and millions depending on smallholder farms, the agreement is a step toward empowering local producers, creating employment, and strengthening food and economic systems in East Africa.
Related Posts
