President of the United Nations International Fund for Agricultural Development (IFAD), Alvaro Lario, has called on member states to urgently scale up investments in small-scale farmers to avert future food crisis and reduce growing global hunger.
Lario, while speaking in New York, the United States, noted that about three billion people who live in the rural areas of developing countries rely, to a significant extent, on small-scale farming for their food and livelihoods, stressing that food and income security are essential for national security.
He lamented that rural economies and, specifically, agriculture have suffered from chronic under-investment in recent decades warning that continuing neglect of rural people would increase poverty, hunger, migration and increase the likelihood of conflict and instability.
IFAD President said: “The populations we serve, who produce so much of our food, are not looking for hand-out, they are seeking to overcome limits such as lack of access to finance, technology and connectivity. They deserve our support.”
He attributed the global food crisis to the convergence of multiple crises, including climate extremes, conflicts, economic shocks and food supply chain disruptions, with many linked to the war in Ukraine and the global pandemic. He added that food and fuel prices globally were at record highs by the end of 2022 and that though commodity prices have now come down in international markets, food prices remained high in developing countries, which depend greatly on importation.
“About 80 per cent of the world’s extremely poor people reside in rural areas. While essential for global food security, smallholder farmers often live in poverty and hunger, making just six cents for every dollar worth of food they produce.”
“We urgently need to increase investment in rural areas of developing countries to safeguard global food security and ultimately, national security,” said Lario.
He stressed that investing in rural areas and small-scale farmers could lift millions out of poverty and hunger.
“GDP generated by agriculture, for example, is two to three times more effective in reducing poverty than growth in any other sector. Alarming debt levels in low and middle-income countries, global inflation and local currency depreciation make it extremely challenging for developing countries to finance longer-term development.”
