A group of Saudi-based investors, including the Islamic Development Bank (IDB), will launch later this year a seven-year plan worth $1 billion in Africa to reduce dependency on rice imports and supply the Middle East region.
"We are looking at three to four countries: Mali, Senegal and may be Sudan and Uganda," said Salim Lalani, head of investments at Foras International Investment Company, one of the partners in the project.
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