USAID will arrange a $30 million package which will in part help Zambia boost food exports to two east African countries suffering from surging prices due to Russia’s invasion of Ukraine.
Two companies in Zambia, one of southern Africa’s biggest corn producers, will start moving 17,500 metric tons of corn and soybeans to Rwanda and Kenya in the coming days, with 30,000 more tons to come, according to a statement. The firms will be assisted by a revolving credit facility structured by USAID.
“We have to bet on Zambia’s future as an agricultural powerhouse. Zambia can become a leading exporter of food across its eight regional neighbors.” USAID Administrator Samantha Power said in a recording during a visit to the country.
East African countries including Kenya were already suffering from the worst drought in more than four decades before the war in Ukraine hit grain and fertilizer exports, significantly adding to global inflationary pressures. Zambia has a corn surplus of 1.2 million tons from the last growing season.
US President Joe Biden earlier his week said USAID was expanding its Feed the Future initiative to improve global food security to countries including Rwanda and Zambia.
Read also; Kenya & Zambia Sign 6 MoUs to Enhance Bilateral Cooperation.
