The African Development Bank and the Economic Community of West African States (ECOWAS) Commission have signed a Protocol of Agreement for a grant of $11.78 million to strengthen regional rice manufacturing, to assist guarantee meals safety, and scale back West Africa’s dependence on expensive rice imports.
The grant was permitted by the Bank Group’s Board of Directors on 20 November 2024 to finance the Regional Resilient Rice Value Chains Development Program in West Africa (REWARD-ECOWAS). The grant is matched by a co-financing of $1.18 million by the ECOWAS Commission.
ECOWAS Commission President, Dr. Alieu Omar Touray and Bank Director General for Nigeria, Dr. Abdul Kamara, signed the settlement on the ECOWAS Commission headquarters in Nigeria’s capital March on 10th, marking a significant step ahead within the establishments’ objectives to extend agricultural productiveness and strengthen regional meals techniques.
For many in West Africa, rice shouldn’t be solely a staple meals, however a pillar of meals safety and an indicator of financial stability. Despite Africa’s huge agricultural potential, West Africa continues to depend on imports to fulfill demand, putting a pressure on economies and meals techniques. With demand anticipated to rise considerably within the coming years, strengthening native rice manufacturing isn’t just a precedence however an pressing necessity.
Over the following 5 years, REWARD-ECOWAS venture will give attention to supporting coverage reforms, enhancing the regulation of agricultural inputs, and enhancing regional digital monitoring techniques to make West Africa’s rice sector extra aggressive. The ECOWAS Commission, by its Economic Affairs and Agriculture Department and the ECOWAS Rice Observatory, will lead the implementation of this initiative.
Speaking on the signing ceremony, Kamara emphasised the Bank’s dedication to strengthening meals safety and worth chain improvement within the area.
“In 2021, West Africa produced around 14 million metric tons of milled rice, while the demand was over 22 million metric tons. This gap has led to significant rice imports, costing the region $3.5 billion annually,” he mentioned. “The REWARD-ECOWAS project is a major step toward reducing import dependence, boosting food production and reducing vulnerability to global market fluctuations in the region. The African Development Bank is proud to support ECOWAS in this effort, which will benefit all 15 ECOWAS Member States, including Nigeria.”
Touray expressed the Commission’s gratitude to the Bank for the grant and reaffirmed ECOWAS’ dedication to implementing the venture rapidly.
He mentioned: “Food and rice production is part of food security which is also related to peace and security. So, for us an important project such as REWARD must be implemented fast. The project aligns with our “4X4 Strategy,” which is anchored on enhanced regional peace and safety, deeper regional integration, good governance, and inclusive and sustainable improvement.”
The REWARD-ECOWAS venture is a part of a broader regional effort to implement the ECOWAS Regional Rice Roadmap (2025-2035) and the Action Plan of the ECOWAS Rice Observatory. It aligns with the African Development Bank’s Regional Strategy Paper for West Africa 2020-2025, whose goal is to ramp up its assist to the ECOWAS area, together with growing agricultural productiveness and increase regional meals techniques.
The new settlement will provide ECOWAS nations the chance to remodel their rice sectors, safe meals sovereignty, and scale back vulnerability to world market fluctuations. The venture’s success will allow hundreds of thousands of latest jobs to be created, stabilize and reinforce the area’s resilience towards future meals crises.
Source African Development Bank Group
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