AGCO, Your Agriculture Company, a global manufacturer and distributor of agricultural equipment and solutions, has signed a letter of intent (LOI) with the German Federal Ministry of Economic Cooperation and Development (BMZ) to implement a joint agricultural project in Africa.
The potential project, subject to further talks, aims to make measurable contributions to increasing agricultural productivity and skills development, thereby boosting income and employment in African rural households.
“We expect that the collaboration between the BMZ, an important institution for international cooperation on agricultural projects, and AGCO, one of the world’s largest producers of farm machinery, to trigger significant synergies,” said Martin Richenhagen, president, chairman and CEO of AGCO.
The mechanisation activities of both the BMZ and AGCO are designed to contribute to the UN 2030 Agenda and Sustainable Development Goals (SDG) to eradicate extreme poverty and end hunger by 2030. The goals also aim to double the agricultural productivity of small-scale food producers, ensure sustainable food production systems and implement resilient agricultural practices. Read more