AfDB warns Russian/Ukrainian crisis could fuel food scarcity in Africa

The African Development Bank (AfDB) Group warned on Monday that a fertiliser crisis sparked by Russia’s war in Ukraine might jeopardize more than $10 billion in African agricultural output.

AfDB President, Dr. Akinwumi Adesina gave this warning, during a three-day official visit to Washington, DC, which included multiple bilateral talks with stakeholders on African development.

This was contained in a press release on the African Development Bank’s website.

“A fertilizer crisis resulting from Russia’s war in Ukraine might jeopardize more than $10 billion in food production,” Adesina was quoted as saying in the statement.

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According to the AfDB president, the bank is focused on boosting massive food production to combat the looming global food crisis in Africa due to the war in Ukraine.

The statement read in part, “Meeting with the African Union’s Group of 15 Finance Ministers, Adesina outlined the continent’s immediate challenges and the solutions that were being applied to tackle them successfully.

“Top of Adesina’s list was a plan for massive food production in the face of a looming global food crisis caused by the Russian war in Ukraine, and the need for a more flexible and substantial replenishment of the African Development Fund.

“The ministers agreed to a joint communique on financing Africa’s economic resilience in turbulent times. They called for a substantial replenishment of the African Development Fund and for the Fund to be allowed to use its equity to leverage more resources from international capital markets to meet the rapidly growing needs of countries in Africa.”

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