The foundation released the money on Friday to fund the second phase of the Programme for AfricaÃ¢â‚¬â„¢s Seed System (Pass), an initiative by the Alliance for Green Revolution in Africa (Agra).
In a press statement, Pass programme director Dr Joe DeVries said the foundation increased its investments in agriculture because most farmers in Africa are yet to access improved seeds due to lack of localised crop breeding as well as efficient and dependable seed delivery systems.
Ã¢â‚¬Å“A good seed is not just the driving force behind good harvests and eliminating poverty and hunger, it is the foundation for rapid economic growth,Ã¢â‚¬Â said DeVries.
According to the statement, the funds will help seed companies from the sub-Saharan region increase yearly production of 200 000 metric tonnes of improved seed for crops meant to support 10 million farmers in over 15 countries.
The fund will also support the training of 5 000 agro-dealers to set up seed and fertiliser shops in remote areas.
Principal Secretary for Agriculture, Irrigation and Water Development Erica Maganga described the donation as timely.
She said smallholder farmers constitute over 70 percent of the agriculture sector; hence, the significance of the financial support.