FAO: Low, Middle-Income Countries Require $24tn in Six Years for Sustainable Agriculture

The Food and Agricultural Organisation (FAO) has stated that low and middle-income countries would require an investment of $24 trillion from now till 2030 to achieve sustainable agricultural production.

The FAO stated the urgent need for these countries to significantly increase and target more investment to transform global agrifood systems to reduce hunger and bring people out of poverty.

At a High-Level event organised by the Permanent Delegation of Brazil to the United Nations Rome-based agencies and Global Citizen in Rome, the FAO Director-General, Mr. QU Dongyu, stressed the importance of increased investments for a more diverse and productive agricultural sector that promotes nutritious foods and highlighted the sector’s role in addressing all dimensions of sustainable development, including climate action.

Dongyu explained that although agrifood systems are responsible for about 30 per cent of greenhouse gas emissions, adding that transforming them could improve their efficiency and made them more inclusive and resilient.

He cited the recently launched Global Roadmap for Achieving SDG2 without breaching the 1.5C threshold as an innovative plan and concrete package of solutions to support achieving zero hunger and accelerating climate actions.

“The roadmap could also act as a catalyst for increased financing, ”he said.

He highlighted the urgent need to prioritise food security and climate action in 2024 and reaffirmed FAO’s support to the G20 Presidency, which Brazil currently holds.

In a keynote speech, the director general of FAO underlined the grim reality of global hunger, highlighting that 735 million people faced chronic hunger in 2022.

He emphasised the interconnectedness of conflicts, climate extremes, and economic crises, stressing their disproportionate impact on food security and nutrition for the poor and vulnerable.

“FAO is pleased with the fruitful synergy and effective collaboration with the Government of Brazil, and we continue to be committed to providing our full technical and professional support for a successful G20 under Brazil’s Presidency, ”Qu said.

Linking poverty and hunger, Qu also pointed out the alarming connection between inequality and various forms of malnutrition, contributing to a triple burden.

He urged the expansion of social protection programs, citing Brazil as a successful example with its conditional cash transfers.

However, he stressed the need for innovation in social protection, particularly in response to climate shocks.

Looking towards long-term solutions, the FAO boss outlined the need for investments in infrastructure, digitalisation, innovation, and technologies, along with a crucial focus on human capital through improved education and health services.