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A $1.5 billion food security programme has been launched to tackle food insecurity issues in Arab and Africa regions.
Executive Committee of the Arab-Africa Trade Bridges (AATB) programme launched the facility at the African Export-Import Bank (Afreximbank) headquarters in Cairo.
The programme comes at a time the wold is grappling with food security crisis.
At the hybrid event held in Cairo on Thursday, members of the Executive Committee addressed the gathering and highlighted the relevance of the Food Security Program to their member countries.
They emphasized its special interest in the food sector, AATB aimed to leverage its expertise, resources, and partnerships to implement targeted engagements that address the specific challenges faced by member countries.
The Food Security Programme is developed around the four pillars of the AATB Programme, namely Trade, Investment, Insurance, and Infrastructure.
In addition, the programme incorporates a fifth element, which is capacity development and technical assistance, serving as a cross-cutting theme and an enabling factor.
As part of the programme, funded and unfunded financial transactions related to food security will be provided, alongside capacity development and technical assistance services.
It was stated that the programme would in the short-term address the immediate food security requirements of member countries, with a specific focus on ensuring the resources for a consistent and reliable supply of essential food commodities.
It also recognizes the urgency of meeting the immediate needs of populations facing food insecurity.
Additionally, by attracting investments, upgrading infrastructure, optimizing value chains, and fostering cooperation, the programme aims at building resilient and sustainable food systems that ensure the availability, accessibility, and affordability of nutritious food for all.
These measures will contribute to long-term food security and support the overall socio-economic development of the region.
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