G20 Launches Innovative Strategy to Boost Food Security
July 6, 2012| |
G20 leaders announced on June 18 during the 2012 summit in Mexico an innovative initiative that will enhance global food security and improve the livelihoods of developing country farmers. This is through providing prizes and other market-based incentives which they called AgResults. AgResults is an initiative to enhance welfare of smallholder farmers and improve food security for the poor and vulnerable through the use of "pull mechanisms" in agriculture. Pull mechanisms are results-based financial incentives rewarding successful innovations and their adoption.
AgResults also plans to launch a series of pilots in the next few years to address some of the biggest problems in global food security and agricultural development. The initial set of pilots, focusing on maize production in Sub-Saharan Africa include incentivizing the adoption of on-farm storage technology for smallholder farmers; encouraging innovative distribution of a breakthrough technology to reduce aflatoxin contamination; and building a market for new vitamin A-enhanced varieties of maize.
For more information about AgResults, visit http://farastaff.blogspot.com/2012/06/g20-mexico-2012-launched-innovative.html and http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/ORGANIZATION/CFPEXT/0,%20,contentMDK:23005969~pagePK:64060249~piPK:64060294~theSitePK:299948,00.html.
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