Big Companies Join White House to Increase Crop Yields in Africa

Some of the world’s largest food and finance corporations have signed to an international program aimed at helping poor farmers in Africa increase their yields, The New York Times says.

President Obama, accompanied by African leaders, will introduce the New Alliance for Food Security and Nutrition in a symposium Friday at Camp David, in Maryland, where he is hosting the Group of 8 meeting industrialized countries.

Multinationals such as Monsanto and PepsiCo are joining small firms among the 45 members of the alliance, which have collectively committed to put more than $3-billion into seeds, storage, and other agricultural needs. The White House effort is part of the L’Aquila Food Security Initiative, to which Group of 8 leaders committed in 2009.

“We are never going to end hunger in Africa without private investment,” said Rajiv Shah, head of the U.S. Agency for International Development. “There are things that only companies can do, like building silos for storage and developing seeds and fertilizers.”