The African Development Bank (AfDB) has pledged to heavily assist the country’s agricultural development endeavors, so that Tanzania grow a wide-range of food crops to ably feed the region and Africa at large.
AfDB President, Dr. Donald Kaberuka, who is attending the ongoing five-day historic annual bank’s meeting in Arusha, said Tanzania have enough land, which is very potential for producing food crops for its own and the rest of African countries.
“As African Bank, we’re very committed to ensure that the country produces enough food to feed its own people and perhaps the rest of African countries,” Dr. Kaberuka said this here yesterday when speaking to few Tanzania’s media outlets.
He said that during the meeting his bank will launch a special fund for boosting agriculture in Africa, which will also help to cloud investors to chip-in and invest into the agri-business sector.
“We believe, this will ensure that Africa has enough food to feed its own people,” he said.
According to Dr. Kaberuka, one of the topical issues in the just ended G8-summit was agriculture, whereby it was agreed that investors should embark into heavy investment in the Africa’s agribusiness.
The official noted that it was astonishing to see people in the continent are crying of hunger, while the region has fertile land to grow variety of crops.
Kaberuka added that AfDB was committed to dish-out US$3billion in Agriculture that will be used in some piloted African countries including Tanzania.
He however explained some of the AfDB proposed initiatives to improve agriculture in Africa as improving infrastructures, regional trade, agribusiness investment and improving environment of doing business.
Commenting on the Tanzania’s economic trend the bank’s leader said: “We’re satisfied with Tanzania’s economic development, but the country should make sure that it maintains that performance.”
He also called upon the government to work in the skyrocketing inflating and high cost of living, saying the vice is a menace to the country’s economic development.
“And the only thing is to increase food production which has a big share on the current inflation. I am not saying authorities are not doing enough to arrest the situation but I want just to encourage them to do better.”
On gas exploration, the bank official said AfDB was ready to assist Tanzania with better tools and skills on how to manage the gas resource so that it benefits its people and the country at large.
Dr. Kaberuka also said that in the bank’s medium strategy, Tanzania is one of the largest recipient of AfDB funds, which is equivalent to half billion dollars, which are in different developmental projects such as roads, power and agriculture.
The official also expressed his satisfaction over the Arusha-Arthi River road construction project, saying it will serve a lot for the EAC and Africa at large.
Kaberuka on Sunday drove from Nairobi to Arusha as part of inspecting one of AfDB-funded projects in the region.
“I’m happy to see that the road has been constructed to international standards. And I spent a few hours from Nairobi to Arusha, compared to the past when we spent many hours on the same road,” he said, adding that completion of the road will take East Africa an extra mile in terms of boosting businesses.
Commenting on the ongoing five-day historic annual AfDB meeting, Dr. Kaberuka said that the meeting is an important cornerstone for Tanzania as thousands of delegates from Africa and the rest of the world attended the historic fora, which involves a number of financial experts and bankers.