Agricultural Transformation: AfDB President Offers Youths Incentives

 Akinwumi Adesina has donated his 2017 World Food Prize award worth over FCFA 139 million to set up a fund fully dedicated to financing young African farmers.

The President of the African Development Bank Group (AfDB), Akinwumi Adesina, has emerged winner of the 2017 World Food Prize, dedicating his award prize money to offering incentives to young African farmers. “I had the privilege of donating my World Food Prize award of $250,000 [over FCFA 139 million] to set up a fund fully dedicated to providing grants, fellowships and financing for the youth of Africa in agriculture as a business,” Adesina said after receiving the award.

Going by the laureate, a portion of his award will be used to support the work of the World Food Prize Youth Institute –Africa. “This stems from the fact that many young farmers find it hard to access loans. Some financial institutions claim that youth lack viable projects, but also have no security or collateral that they can use for securing a bank loa...