As an emergency stopgap to escape a food crisis, the African Development Bank is aiming to secure around 500,000 tonnes of fertilizer for West Africa by the end of August.
Due to the difficulties caused by the Russia-Ukraine war, the bank has approved a $1.5 billion allocation to help shore up the continents food supply and assist with fertilizer.
In an interview in April, ADB president Akinwumi Adesina stated that the price of urea, a low cost fertilizer, has increased by 300 percent.
“The war is driving inflation in Africa, and it could- if not quickly managed trigger a food crisis in Africa”, he said.
According to the bank, there is a two-million-tonne fertilizer supply gap across Africa. It has met with the CEO’s of major fertilizer businesses in Africa and abroad to examine fertilizer affordability. Without confirming the volume sought.
“We are talking to partners and farmers as well’, the bank said in a statement to Reuters, adding that a country must request to participate. “Fertilizer needs are two-fold at this time, half of the fertilizer in May and June for some planting seasons, depending on the location across the continent. The second half called a top dressing is needed a month or two month later.