Maravi

World Bank to boost private agro-sector

World Bank to boost private agro-sector
By Chiwoyu Sinyangwe
Fri 09 Apr. 2010, 04:00 CAT

THE World Bank has led other key financial institutions in launching a major initiative to boost private sector agriculture in southern Africa to meet a growing demand for food and support economic growth.

And agriculture minister Peter Daka has said broader access to agriculture finance will require both the private sector and governments to bring together public and private finance to high impact interventions.

The initiative, launched in Livingstone on Wednesday, will be spearheaded by International Finance Corporation (IFC), the private sector wing of the World Bank and supported by the European Union (EU).

The European Union hosted a regional agricultural and food security forum from April 6-9 in Livingstone and gathered industry leaders, private and public sector partners, financial institutions, farmer organisations, and civil society groups to discuss ways to support agriculture projects in the region.

And Daka said finding a formula for sustainable partnerships between public and private finance was key to stimulate private sector led agriculture growth in southern Africa.

”Broader access to agriculture finance will require both the private sector and governments to bring together public and private finance to high impact interventions,” said Daka. “Finding a formula for a sustainable partnerships between the two, is what is going to stimulate private sector led agriculture growth in the region.”

The forum, supported by Rabobank from Netherlands and Zambia National Commercial Bank and facilitated by Dalberg focuses on enabling access to finance for emergent and small-scale farmers and on finding ways to improve both the productivity and the quality of goods produced.

Labels: AGRICULTURE, PETER DAKA, RABOBANK, World Bank

posted by MrK @ 2:31 PM