The Southern African Development Community is edging towards the creation of the first-ever food reserve facility that will mobilize grain and cereals to alleviate hunger in the drought-prone region.
Dubbed “Framework for the establishment of the SADC reserve facility” the initiative will be launched on April 20 when agricultural ministers from the trading bloc convene at a venue yet to be announced. Two agricultural experts from Zimbabwe have been contracted to formulate an operating framework, which will be presented at the ministers' meeting.
An official close to the developments said the initial target is to raise between 300,000 and 500,000 tonnes of maize to be stored in different parts of the region. The ministers will also consider the possibility of establishing a fund that would be used to assist countries failing to procure maize to avert hunger among their people.
The official said, “According to the document plan, SADC member states will be able to borrow money from the revolving fund for purposes of buying maize, either from the facility or elsewhere. This arrangement comes against a background of a steep rise in the cost of buying maize from other parts of the world”.
Financial Gazette
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March 30, 2007
SADC set to create regional grain reserve
Categories drought, food security, grain, maize, SADC
