Hunger has worsened in several regions of Africa, driven by armed conflict and extreme weather that scientists have linked to fossil fuel-driven climate change.
The announcement, by USAID administrator, Samantha Power and Norwegian minister of international development, Beathe Tvinnereim on the sidelines of the UN General Assembly, comes as Russia and China vie with the United States and Europe to win over developing countries.
The fund aims to reach a total of $200 through additional contributions from donors and has the potential to benefit nearly 7.5 million people, the spokesperson said.
USAID and Norway will each commit an initial $35m. The fund has the potential to support 500 small- and medium-sized agricultural businesses, 1.5 million smallholder farmers and nearly 60,000 private sector jobs.
The fund aims to spur hundreds of millions more dollars in commercial financing by reducing the risk of investing.
PigUA.info by materials zawya.com