The philanthropic group Rockefeller Foundation has announced a $130 million fund to reduce global food loss and waste.

The U.S.-based group said the fund will mainly help sub-Saharan Africa to reduce post-harvest loss over a period of seven years.

Mamadou Biteye, head of the Rockefeller Foundation's Africa office, blamed the food losses on poor harvesting techniques, poor storage and lack of infrastructure.

This Rockefeller event was held Wednesday on the sidelines of the U.S.-Africa Business Summit that is taking place in the Ethiopian capital, Addis Ababa.

Ethiopia is currently facing a drought that led to widespread crop failure and now threatens lives.