Sector News

Arab-Africa Trade Bridges Program invests $1.5bn in food security initiative

July 23, 2023
Consumer Packaged Goods

The Arab-Africa Trade Bridges Program (AATB) – a programme aimed at promoting and increasing trade and investment between African and Arab member countries – has launched a $1.5 billion programme to address ongoing challenges amid the global food security crisis.

During a hybrid launch event, which took place at the headquarters of the African Export-Import Bank in Cairo this month, members of the AATB’s executive committee emphasised the relevance of the new food security programme to their member countries.

With the launch of the programme, AATB hopes to leverage its expertise, resources and partnerships to implement targeted actions that address the specific food challenges faced by each member country. The programme is centred around AATB’s four pillars: Trade, Investment, Insurance and Infrastructure.

As part of the new programme, funded and unfunded financial transactions related to food security will be provided, in addition to capacity development and technical assistance services.

In a statement, AATB said the core aim of the programme is, in the short term, to 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”.

AATB hopes that by attracting “investments, upgrading infrastructure, optimising 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”.

The statement said: “The programme is a key focus of AATB, reflecting its commitment to addressing the evolving priorities of member countries in crucial sectors such as health and food security for sustainable development. By prioritising the food sector, AATB recognises its importance for human wellbeing, economic growth, environmental sustainability and interconnected development.”

“Through this programme and associated initiatives, AATB aims to contribute to achieving the SDGs and promoting inclusive economic development among member countries.”

Source: foodbev.com

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