By Benjamin Jumbe
13 Public Development Banks have today made a joint commitment to strengthen investments in food and agriculture in the context of a global pandemic and a changing climate, with more signatories expected in the coming days.
This unprecedented move comes as an urgent response to the world’s most pressing development and climate challenges in some of the most vulnerable countries.
President of the UN’s International Fund for Agricultural Development Gilbert Houngbo said COVID-19 and climate change are putting enormous stress on food systems hence the need to act now and step up financing if the world is to be free from hunger and poverty by 2030.
He said Public Development Banks can be leaders in unlocking opportunities, building a more resilient world and ensuring more equitable societies.
The statement has been signed so far by 13 agriculture and rural banks from Sub-Saharan Africa, Asia and Latin America, and regional rural and agricultural credit associations.