The Food Security Challenge is launched to support commercially viable youth-led and mid-stage companies
The United States Agency for International Development (USAID) in Nigeria has launched a COVID-19 Food Security Challenge that will provide $3 million in grant funding and technical assistance to youth-led and mid-stage companies working in food value chains in Nigeria.
The Food Security Challenge is launched to support commercially viable youth-led and mid-stage companies already working in food production, processing, and distribution to boost their productivity and ensure food security for the country.
Nigeria is experiencing food insecurity compounded by the COVID-19 pandemic and its effects on the food value chain in the country. The pandemic disrupted the country’s already fragile agricultural value chains and smallholder farmers’ ability to produce, process, and distribute food effectively.
“We are launching the COVID-19 Food Security Challenge to help innovative Nigerians alleviate food insecurity,” Anne Patterson mission director, USAID said in a statement.
“This assistance encourages private sector-led solutions to boost food production, processing, and create market linkage along the agriculture value chain in a sustainable way across Nigeria,” Patterson said.
In launching the challenge, USAID has opened applications for commercially viable youth-led and mid-stage companies already working in food production, processing, and distribution.
Successful applicants will present ideas that demonstrably help farmers and other stakeholders in the agricultural value chain increase agricultural productivity and food security within the next six months.
The challenge will award 15 to 25 youth-led companies up to $75,000 each and award 10 to 15 mid-stage companies up to $150,000 each.
Winners will receive funding and technical assistance to rapidly expand their activities to mitigate the effect of COVID-19 on Nigeria’s food value chain and improve the resilience of vulnerable households to the negative impacts of the pandemic.
Source: Business Day