In order to address the challenges facing member countries, AATB concentrates on the food sector and makes use of partnerships, resources, and expertise.
In response to the ongoing global food security crisis, the executive committee of the multi-donor Arab-Africa Trade Bridges (AATB) Program launched a US$1.5 billion food security programme to address the issues of food insecurity in the Arab and African regions.
The crisis continues to be a top priority on the international development agenda and is one of the biggest challenges the world is currently facing.
The various AATB program partners as well as esteemed local and regional media outlets attended the hybrid launch event, which was held at the African Export-Import Bank (Afreximbank) headquarters in Cairo on July 6. Speaking to the group, members of the Executive Committee emphasised the importance of the Food Security Program to their member nations.
In order to address the challenges facing member countries, AATB concentrates on the food sector and makes use of partnerships, resources, and expertise.
The Trade, Investment, Insurance, and Infrastructure-based Food Security Program includes technical assistance and capacity building. It offers funded and unfunded financial transactions, as well as services for technical assistance and capacity building.
The program’s main goal in the short term is to meet the member countries’ immediate needs for food security, with a focus on providing the means for a steady and dependable supply of basic food commodities. The urgency of addressing the immediate needs of populations experiencing food insecurity is also acknowledged by this objective.
The program also aims to create resilient and sustainable food systems that guarantee the accessibility, affordability, and availability of wholesome food for everyone by luring investments, improving infrastructure, maximising value chains, and encouraging cooperation. These actions will support the region’s overall socioeconomic development and long-term food security.
With a focus on human well-being, economic growth, environmental sustainability, and interconnected development, AATB’s Food Security Program places a priority on health and food security for sustainable development. It aims to accomplish the SDGs and encourage inclusive economic growth among the member nations.
The AATB Program is a multi-donor, multi-country, and multi-organizations program supported by the African Export-Import Bank (Afreximbank), Arab Bank for Economic Development in Africa (BADEA), Islamic Development Bank, The International Islamic Trade Finance Corporation (ITFC) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), The Islamic Corporation for The Development of The Private Sector (ICD), and The OPEC Fund for International Development.
The Program aims to promote and increase trade and investment flows between African and Arab OIC Member Countries; provide and support trade finance and export credit insurance and enhance existing capacity-building tools relating to trade.
The Program focuses specifically on assisting the vital industries of petrochemicals, building supplies, and technology, as well as agriculture and related sectors like textiles, health care, and pharmaceuticals.