Global Trust Fund for Small Farmers
April 30, 2010| |
The Global Agriculture and Food Security Program (GAFSP) has just been launched to improve food security and incomes in low-income countries through assistance to agriculture. This new multi-donor trust fund managed by the World Bank hopes to address underfunding of country and regional agriculture and food security investment plans. Founding donors to the Program are Canada, the Republic of Korea, Spain, the United States of America and the Bill and Melinda Gates Foundation.
"Investing in small farmers is an incredibly effective way to combat hunger and extreme poverty—history has proved it many times," said Bill Gates, whose foundation has pledged $30 M.
According to the Food and Agriculture Organization, the new mechanism includes "public- and private-sector financing windows to provide grants, loans and equity investments aimed at raising agricultural productivity, linking farmers to markets, reducing risk and vulnerability, improving non-farm rural livelihoods, and providing technical assistance and capacity development."
Details of the Program are available at http://www.fao.org/news/story/en/item/41451/icode/ or contact media@gatesfoundation.org.
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