Public investment in sustainable agriculture rose by more than a fifth last year, according to the 2022 Annual Review released by the UN Food and Agriculture Organisation (FAO) Investment Centre.
The FAO Investment Centre monitors some 45 public investment projects in 32 countries, which it said were worth $8.8 billion in 2022. This was an increase of 22 per cent year-on-year, Xinhua news agency reported.
The review said on Tuesday that the centre had made some important achievements when viewed “against the backdrop of volatile food, fertiliser, and fuel prices, supply chain disruptions, conflict, the climate crisis, humanitarian emergencies, and the lingering effect of the Covid-19 pandemic”.
“We must act together, and quickly, to tackle these global challenges for a healthier, more sustainable future that leaves no one behind,” FAO Director-General Qu Dongyu said.
“That means transforming the way our agri-food systems work, from how we produce, supply and consume our food to how we reduce food losses and waste in our landfills.”
For decades, the FAO has helped poor and developing countries invest in agriculture and rural development over the long term.
The Investment Centre acts as a bridge between member states and financing partners, including the World Bank, the International Fund for Agricultural Development, the European Union, and regional development banks.