Canada's Global Affairs Canada has allocated $7.3 million in funding to the Africa Fertilizer Financing Mechanism (AFFM) to bolster sustainable agricultural productivity and support smallholder farmers, with a focus on women and youth empowerment across Africa. The funding targets the AFFM's 'Fostering Africa's agricultural productivity through fertilizer value chain financing' (FOSTER) program, administered by the African Development Bank Group from its headquarters in Côte d'Ivoire. The program aims to enhance access to finance for fertilizer importers and aggregators, improve soil health, and provide technical assistance to farmers, with a goal to benefit eight hundred thousand smallholder farmers, with 40 percent being women and 10 percent being youth.
The AFFM, with Canada's support, endeavors to increase fertilizer utilization in Africa's agriculture sector, addressing financing and technical knowledge gaps among farmers. The FOSTER program, under the AFFM's Strategic Plan 2022-2028, aims to boost yields by 30 percent through improved access to and utilization of organic and inorganic fertilizers, with credit guarantee facilities extended to the inputs supply chain in eight African countries. This initiative aligns with Canada's commitment to promoting resilient, climate-smart agriculture and inclusive, green growth, while also supporting the United Nations' Sustainable Development Goals and the African Union's Agenda 2063.