ROME: Last year the United Nations Food and Agriculture Organization (FAO) Investment Centre provided investment and finance solutions in around 110 countries according to the Centre’s 2023 Annual Review published today. As the FAO Investment Centre continues to assist countries realise the promise of the Four Betters, its support included the design of 38 public investment projects – more than half involving climate and environment-related goals – approved by financing partners in 26 countries worth around $6.6 billion in new investment.

The Centre, which this year marks the 60th anniversary of its establishment, also contributed to dozens of agricultural strategies, sector and policy studies and policy dialogues in 64 countries. Implementation support to ongoing projects continued apace, representing support to a total investment portfolio of $46.7 billion in 92 countries.

‘Transforming global agrifood systems to be more efficient, more inclusive, more resilient and more sustainable is a huge and urgent t
ask,’ FAO Director-General QU Dongyu, wrote in the Review’s foreword. ‘Investment is critical to that transformation – and to realizing the Four Betters at national and local levels. Through our Investment Centre, we work with partners to provide tailored technical support on investment and finance solutions – the 4+2 – to help countries ensure food availability, accessibility and affordability,’ he added.

It has extended its blended finance cooperation with the European Union. Through its advisory services it helped 24 projects to receive financing in 2023 for a total value of USD 124 million. And it is ramping up work on innovative finance with European development finance institutions and new impact investing partners.

Financing the sustainable transformation of agrifood systems will require $4 trillion in investment – or more – in low- and middle-income countries from now through 2030.

Source: Emirates News Agency