Biotech Updates

G8 and African Leaders Unveil Initiatives to Boost African Agri

May 25, 2012

Government leaders of eight of the world's leading economies have unveiled a new plan of action to achieving global food security. The new initiative dubbed New Alliance for Food Security and Nutrition was unveiled on May 18 at a joint meeting between the G8 leaders and African leaders at the Camp David Summit. A statement presented to the media by the US White House which has been hosting the G8 Summit, summed the goal of the initiative as "to increase responsible domestic and foreign private investments in African agriculture, take innovations that can enhance agricultural productivity to scale, and reduce the risk borne by vulnerable economies and communities."

The initiative also seeks to raise 50 million people out of poverty over the next 10 years by aligning the commitments of Africa's leadership to drive effective country plans and policies for food security. "We're going to hold ourselves accountable. We'll measure results. And we'll stay focused on clear goals: boosting farmers' incomes and over the next decade helping 50 million men, women and children lift themselves out of poverty," said President Obama in his speech during the G8 summit.

In a swift expression of support for the initiative, IFAD President Kanayo Nwanze has also lauded the move. He said "The unveiling of this initiative today sends a strong signal that the world's largest economies are ready to extend and deepen their commitments and deliver on a new level of support for eradicating hunger, and doing so in ways that are sustainable for our planet and our societies – including rural societies in developing countries."

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