The World Bank Group has just taken a new step in its commitment to agricultural finance and agribusiness. By announcing the doubling of its commitments to reach $9 billion per year by 2030, the institution is taking a significant step in the fight to stimulate sustainable growth and support employment in the agricultural sector.
This announcement, made by World Bank President Ajay Banga at the Conference on “Agriculture and Food, Drivers of Sustainable Growth and Jobs”, is a strong ambition. Indeed, it demonstrates the institution’s determination to act proactively to promote private investment, increase productivity and strengthen resilience to climate challenges.
Ajay Banga stressed during his speech that we are at a crucial moment, where decisions taken today will have a major impact on the future. The ecosystem approach adopted by the World Bank allows for a holistic vision, emphasizing the importance of smallholder farmers and producer organizations.
This new approach is part of a context marked by major trends shaping the agri-food sector, such as climate change, financial innovations, digitalization and efforts to combat fragmentation. It aims to meet growing food demand and fill the crucial need for jobs in emerging markets.
In conclusion, this announcement by the World Bank represents a strong signal in favor of the development of sustainable and resilient agriculture. By doubling its financial commitments in the agricultural sector, the institution shows its determination to support farmers, foster innovation and strengthen food security on a global scale. The road is paved, it remains to work together to achieve these objectives and build a more sustainable future for all.
Flory Musiswa