The Economic Community of West African States (ECOWAS) and the African Development Bank (AfDB) have signed an $11.18 million agreement to launch the Rice Resilient Value Chains Development Project in West Africa.
The signing event which took place at the ECOWAS Commission Headquarters in Abuja seeks to enhance food security and promote local investments in rice value chains.
The REWARD project also aims to boost public and private investments in the rice value chain by adopting effective business models. As part of a broader regional initiative, the project is funded by the African Development Bank (AfDB) and supports rice development across 15 West African countries.
In a statement issued by the commission, ECOWAS President Alieu Touray signed the agreement on behalf of the Commission, while AfDB Director General for Nigeria, Dr. Abdul Kamara, represented the Bank’s President, Dr. Akinwumi Adesina. Valued at $650 million, the program aims to strengthen rice self-sufficiency across ECOWAS member states. The initiative will leverage successful business models to enhance food security and resilience in the region.
During the signing ceremony, Touray expressed gratitude to the African Development Bank (AfDB) for its support and assured that the project would be implemented without delay.Dr. Abdul Kamara, reaffirmed the Bank’s commitment to supporting ECOWAS in achieving food security and resilience, in line with the regional Vision 2020 strategy.
The initiative comes at a critical time as West African nations work to reduce reliance on rice imports and boost local production capacity. The successful implementation of the REWARD project is expected to go beyond improving food security. It will create jobs, strengthen economies, and enhance the region’s ability to withstand future food crises, reinforcing long-term resilience.
