Experts call for more and longer-term funding to tackle systemic causes of hunger and break the cycle of emergency food aid
BATHINDA: Ending global hunger is an ‘affordable goal’ despite the ongoing food crisis but it requires a rethink of development aid and finance, according to a new report by Economist Impact with global agri foods-focused research partnership Consultative Group on international agricultural research (CGIAR).
CGIAR is the largest agriculture innovation network while Economist Impact combines the rigour of a think-tank.
The report ‘Ending hunger: the role of agri-food financing’, showed that increases in development funding alone have been insufficient to bring down food insecurity, with almost 670 million people projected to face hunger by 2030.
The report found that too little investment had been directed towards long-term improvements in food production, with less than 7.5 per cent of overseas aid spent on research and innovation to tackle the root causes of hunger and malnutrition in 2021. Almost half of overseas development assistance (ODA) for food and agriculture was spent on food aid.
The report highlighted an estimated funding gap of $33-50 billion a year, of which at least US$14 billion would need to come from ODA. Among its recommendations was a reform of international financing institutions (IFIs), such as the World Bank and IMF, including a reallocation of unused currency reserves known as Special Drawing Rights from high-income countries to low-income countries.
“While humanitarian food aid is a natural response to a crisis, funding research and innovation allows us to break free of the crisis response cycle and build long-term resilience,” said Claudia Sadoff, executive managing director of CGIAR, which supports science, research and innovation for greater food security across the Global South.
She said “Investment in innovation takes time to bear fruit, but it pays off forever. With urgent action and growing investment, an end to world hunger and the possibility of sustainable food systems, are within reach.”
To increase the volume and impact of funding for more resilient food systems, the report made three recommendations, which included scaling up ODA, tapping new sources of private sector funding, and maximizing existing investments.
The report was published as the World Bank and IMF hold their spring meetings in Washington DC amid rising pressure to increase support for low-income countries to address the ongoing food, climate and debt crises.
“IFIs could do more to provide support. There is definitely progress, but not at the pace that we need to see it,” Rasmus Egendal, Deputy Director, Government Partnership Division, World Food Programme (WFP), told the report authors.
“We are not seeing a commensurate increase in investment in longer-term food security. This only adds pressure on humanitarian needs.”
Experts emphasised the disproportionate impact of systemic improvements in agriculture on reducing hunger.
“Investment in agriculture can be an engine for economic growth by alleviating poverty and giving people the ability to purchase the food they need,” said Saharah Moon Chapotin, executive director of the Foundation for Food & Agriculture Research.
BATHINDA: Ending global hunger is an ‘affordable goal’ despite the ongoing food crisis but it requires a rethink of development aid and finance, according to a new report by Economist Impact with global agri foods-focused research partnership Consultative Group on international agricultural research (CGIAR).
CGIAR is the largest agriculture innovation network while Economist Impact combines the rigour of a think-tank.
The report ‘Ending hunger: the role of agri-food financing’, showed that increases in development funding alone have been insufficient to bring down food insecurity, with almost 670 million people projected to face hunger by 2030.
The report found that too little investment had been directed towards long-term improvements in food production, with less than 7.5 per cent of overseas aid spent on research and innovation to tackle the root causes of hunger and malnutrition in 2021. Almost half of overseas development assistance (ODA) for food and agriculture was spent on food aid.
The report highlighted an estimated funding gap of $33-50 billion a year, of which at least US$14 billion would need to come from ODA. Among its recommendations was a reform of international financing institutions (IFIs), such as the World Bank and IMF, including a reallocation of unused currency reserves known as Special Drawing Rights from high-income countries to low-income countries.
“While humanitarian food aid is a natural response to a crisis, funding research and innovation allows us to break free of the crisis response cycle and build long-term resilience,” said Claudia Sadoff, executive managing director of CGIAR, which supports science, research and innovation for greater food security across the Global South.
She said “Investment in innovation takes time to bear fruit, but it pays off forever. With urgent action and growing investment, an end to world hunger and the possibility of sustainable food systems, are within reach.”
To increase the volume and impact of funding for more resilient food systems, the report made three recommendations, which included scaling up ODA, tapping new sources of private sector funding, and maximizing existing investments.
The report was published as the World Bank and IMF hold their spring meetings in Washington DC amid rising pressure to increase support for low-income countries to address the ongoing food, climate and debt crises.
“IFIs could do more to provide support. There is definitely progress, but not at the pace that we need to see it,” Rasmus Egendal, Deputy Director, Government Partnership Division, World Food Programme (WFP), told the report authors.
“We are not seeing a commensurate increase in investment in longer-term food security. This only adds pressure on humanitarian needs.”
Experts emphasised the disproportionate impact of systemic improvements in agriculture on reducing hunger.
“Investment in agriculture can be an engine for economic growth by alleviating poverty and giving people the ability to purchase the food they need,” said Saharah Moon Chapotin, executive director of the Foundation for Food & Agriculture Research.