$1-billion for African agriculture

The African Development Bank has committed US 1 billion dollars to revamp the continent's agricultural sector.

Donald Kaberuka, the bank's president, said in an interview on Tuesday: "We have committed US 1 billion dollars to new agricultural projects in Africa. This is new money raised through our restructuring portfolio and it will be disbursed to pay inputs and fertilizers".

Kaberuka, in an interview in Maputo, noted that Africa needed to redouble its efforts to boost agricultural productivity or face an economic and humanitarian crisis.