ECOWAS, AfDB sign $12m grant agreement for rice value chain devt

The Economic Community of West African States (ECOWAS) Commission and the African Development Bank (AfDB) signed a $12 million grant agreement in March to implement the Rice Resilient Value Chains Development Project (REWARD) in West Africa.

The signing ceremony took place at the ECOWAS Commission Headquarters in Abuja, Nigeria. The REWARD project aims to promote public and private investments in rice value chains.

The program will be based on successful business models and is part of a regional rice development initiative financed by the AfDB across 15 West African countries.

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The President of the ECOWAS Commission, Dr. Alieu Omar Touray, signed the agreement on behalf of the Commission, while the AfDB Director General for Nigeria, Dr. Abdul Kamara, signed on behalf of the Bank’s President, Dr. Akinwumi Adesina.

This multinational, multiphase program is valued at $650 million and aims to promote rice sovereignty across all ECOWAS Member States.

During the signing ceremony, Dr. Touray expressed the Commission’s gratitude to the Bank for the grant and reaffirmed ECOWAS’ commitment to implementing the project swiftly.

Dr. Kamara stated that the Bank is dedicated to supporting ECOWAS in achieving food security and resilience in the region, in line with ECOWAS Vision 2020.