THE OPEC FUND AND AGRICULTURE: A LONG-STANDING COMMITMENT
The primary sector has always been a main concern of the development institution. Today the OPEC Fund responds to current challenges by combining long-term engagement with new approaches and promoting state-of-the-art solutions By Başak Pamir, OPEC Fund
G
lobal food security is under pressure. Climate change, water
scarcity, loss of agricultural land, conflicts and economic vulnerabilities have long hampered progress towards a world free of hunger. Today we live in a period of even
greater challenges and new realities: In 2020, the COVID-19 pandemic caused an additional 120 million people to suffer from hunger, according to the UN Food and Agriculture Organization (FAO). This means that today one in 10 people in the world does not have enough food. In addition, the war in Ukraine is now calling into question the future of nearly a quarter of the world’s wheat exports. In the face of severe supply disruptions, food and fertilizer prices are already surging dramatically. “In our interconnected world no one is immune to the impacts of the developments in the agriculture sector. Agricultural development is at the heart of sustainable development and is one of the most powerful tools to foster economic and social well-being,” says Anajulia Taylhardat, Director of Coordination and Planning for OPEC Fund Public Sector Operations.
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“As the world population is expected to reach 9.7 billion by 2050, many developing countries are not able to feed their populations. Some simply cannot cope with the rapid changes in climate and the ensuing risks, some lack adequate resources to make necessary investments to produce more and better food, while many lack access or strength to compete in global markets. Since its establishment, the OPEC Fund
has prioritized the alleviation of rural poverty, dedicating a wide portion of its resources to operations in the agriculture sector and now in support of Sustainable Development Goal 2 – Zero Hunger.” To date, the OPEC Fund has
committed US$2.6 billion in support of agriculture projects, representing more than 10 percent of its total operations. The OPEC Fund finances investments in rural infrastructure, especially routes
Agricultural development is at the heart of sustainable development and is one of the most powerful tools to foster economic and social well-being.
Anajulia Taylhardat, Director of Coordination and Planning for OPEC Fund Public Sector Operations
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