Six years ago, African leaders recognized that the degradation of 65 percent of the continent’s agricultural land threatens economic and environmental ruin for millions of farmers. They realized this just as the effects of climate change – lower crop yields, erratic rainfall, prolonged droughts – are making life harder for millions of farmers, herders, and city dwellers. That’s why African countries have pledged to begin restoring 100 million hectares of degraded land by 2030 through the AFR100 Initiative.
The first $2.6 million donation into that fund is ready to deploy, and the loans out of the fund should be ready to deploy within 30 days.
Details on the whole project can be found at africa.terramatch.org, along with descriptions of the companies being awarded the grants and loans.