The African Development Bank Group will mobilize close to $4 million to help Burundi urgently procure over 3,000 tons of fertilizer over the upcoming agricultural season.
The assistance will allow the nation to buy fertilizer for the season’s first half, which starts in May. An estimated 145,000 tons will be required by the nation for the full season.
On behalf of President Évariste Nadyishimiye, the Minister of Finance, Budget, and Economic Planning of Burundi, Mr. Audace Niyonzima, requested this assistance during a meeting with the president of the African Development Bank on April 7, 2023 in Abidjan.
In order to help fulfill the urgent demands of the first phase, the Bank would deploy two ongoing projects from its current portfolio in Burundi, according to Bank Group President Dr. Akinwumi Adesina.
Another potential will be investigated for later phases, according to Adesina, is the African Fertilizer Development Financing Mechanism, a unique fund controlled by the African Development Bank.
Additionally, the Bank will assist Burundi in pursuing chances to work with other international organizations, such as the World Food Programme, to explore fertilizer buying options.
The Burundian government was urged by Adesina to push fertilizer industry reforms. For increased transparency in the distribution of fertilizer to recipients, he suggested creating an electronic wallet (e-wallet).
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