Alvaro Lario, President of the International Fund for Agricultural Development (IFAD), made a strong pitch for increased investment in small-scale farmers and rural communities at the G20 Agriculture Ministers’ meeting in Hyderabad, India, from 15-17 June.
His call for greater investment in rural people echoes the recognition of G7 leaders that we urgently need more support for sustainable and resilient agriculture and food systems in response to a worsening global food crisis.
Lario shared IFAD’s vision for development with G20 leaders and argued that investing in rural communities is the most cost-effective way to improve global food security and support stability.
“Despite the fact that the multiple crises are staling global progress on eradicating poverty and hunger, we can still achieve our goals,” said Lario.
Read: IFAD president visits India to advocate for small-scale farmers, rural communities at G20 meeting
“We know what works: climate-smart technologies, improved resilience, and commercially viable nature-based solutions are proven ways to build equitable, sustainable and inclusive food systems. But to realize this potential, we must invest in small-scale producers and boost the role of rural women and youth in value chains,” he added.
While in India, he also met Minister of Finance Nirmala Sitharaman and Minister of Agriculture Narendra Singh Tomar.
They discussed the reform of the financial architecture and the role the global South in this process, as well as the importance of aggregation of food producers to achieve food system transformation in India.
“India is a crucial and long-standing partner in our efforts to address hunger and poverty, empower rural women and build resilience to climate change,” said Lario.
“I am confident that under India’s presidency, the G20 will develop a roadmap to feed a hungry planet sustainably and equitably.”
Under India’s presidency, the G20 is a critical forum to increase investments in small-scale farmers, which will help them adapt to climate change, implement new practices and access markets, technologies and financial services.
Read: Bangladesh, IFAD sign financing deal for USD 31 million project to diversify agriculture
On the sidelines of the meeting, President Lario also met Muhammad Abdur Razzaque, Minister of Agriculture, Bangladesh, Kang Hyoung-Seok, Deputy Minister of Agriculture, Korea; Mariam Almheiri, Minister for Climate Change and Environment, United Arab Emirates; Abdulrahman A. Alfadley, Minister of Environment, Water and Agriculture, Saudi Arabia; Saoud Al Habsi, Minister of Agriculture, Fisheries and Water Resources; and Syahrul Yasin Limpo, Minister of Agriculture, Indonesia, IFAD said on Saturday.
Earlier this year, G7 leaders identified IFAD as a key player for global food security, expressing support to the Fund’s action towards small-scale farmers to strengthen local food production, meet local and regional food demand, build markets and reduce food loss.
IFAD supports small-scale farmers and rural small enterprises to boost agricultural productivity, adapt to climate change and build solid, reliable and pro-poor food supply chains. Between 2019 and 2021, IFAD investments raised the incomes of 77.4 million rural people while improving food security for 57 million people.
Small-scale farmers produce at least one third of the world’s food and up to 70 per cent of the food produced in low- and middle -income countries.
They are key to global food security and stability more generally, as hunger and poverty can also fuel forced migration and conflict.
Read more: Placing small-scale farmers, rural populations at heart of climate discussions: IFAD at COP 27
They are increasingly impacted by climate change, conflicts and economic shocks. But official development aid (ODA) directed at agriculture has been stagnant at 4 to 6 per cent of ODA for at least two decades, and small-scale farmers receive less than 2 per cent of global climate finance globally.