02 | OPERATIONS
AGRICULTURE
As the world’s population continues to grow, sustainable and inclusive food systems are becoming more critical. The world needs to sustainably increase agricultural production to meet a constantly growing population, decrease waste and improve food systems. Fighting hunger needs to be done in a way that is also addressing the energy transition agenda.
Climate change is a severe threat to food security. Extreme climate events or droughts can significantly impact agricul- tural output and endanger food security. The OPEC Fund works in support of SDG 2 (Zero Hunger) by promoting sustainable food production and resilient agriculture across the world.
In 2021, the OPEC Fund committed US$176 million to help finance climate resilience for agriculture, provide support to smallholder farmers, improve irrigation systems and connect rural communities to local markets through access roads.
HELPING SMALLHOLDER FARMERS IN BENIN AND TOGO In Benin and Togo, the OPEC Fund is working with the International Fund for Agricultural Development (IFAD) and local governments to strengthen agriculture and trade.
The goal is to sustainably increase incomes and food secu- rity of rural households. In support of the Regional Program for the Integration of Agricultural Markets (PRIMA), the OPEC Fund provided US$25 million in financing. This will support market integration and rural entrepreneurship, ben- efiting around 145,000 households. PRIMA places strong emphasis on creating jobs for women and youth as well as helping increase regional integration.
IMPROVING NUTRITION & FOOD SECURITY IN RURAL HONDURAS Northeast Honduras is characterized by high poverty and food insecurity. The region is also highly vulnerable to the effects of climate change, threatening the livelihoods of small subsistence farmers that constitute the major- ity of the population. The OPEC Fund – together with IFAD – is financing PROINORTE, a project for the eco- nomic and social inclusion of small rural producers, with a US$20 million loan. The goal is to improve regional living c onditions. The OPEC Fund’s contribution will specifically finance rural production infrastructure, water management and climate change mitigation.
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