Biotech Updates

G8 Outcomes – Will the Private Sector Undermine Africa's Smallholder Farmers?

June 8, 2012

Renewed funding for agriculture, food and nutrition security was established as a primary move during the G8 summit in 2009 held in L'Aquila, Italy. Small farmers in developing countries especially in Africa have been the beneficiaries of this new initiative. However, some global commitments for this fund are yet to be fulfilled.

With the recently concluded G8 Summit at Camp David, USA, US President Obama, the current host of the summit endorsed the New Alliance for Food Security and Nutrition. This new initiative will add on to the existing USD 22 billion commitment from donors for food security, and a USD 3 billion new fund to be raised from the private sector. These funds will be used to implement agricultural sector reforms that prioritize small holder farmers and promote food security in Africa.

President Obama endorsed the new alliance project "to achieve sustained and inclusive agricultural growth and raise 50 million people out of poverty over the next 10 years."

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