The UK Government £50 million investment into AgDevCo will benefit 650,000 people across Africa through the development and expansion of 45 agri-businesses. it is expected that this investment in AgDevCo will create 27,000 additional jobs and help 90,000 people to benefit from an average additional income of over $1000 per year over the next decade. Alongside this AgDevCo will implement improvements in irrigation and processing for commercial agribusiness for 49,000 farmers. Justine Greening said: "This sort of innovative, self sustaining, job-creating investment which generates a return that can be itself reinvested will become an increasingly important part of DFID's development approach." All of such development will leverage up to £350 million private investment in addition to the initial £50 million UK investment.
For the announcement please click here.