The World Bank will double annual investments in agriculture to 9 billion dollars

The World Bank has unveiled plans to increase its investments in agriculture and food systems to $9 billion annually by 2030. This bold step aims to address the pressing challenges of food security, climate change, and rural development across the globe.

A transformative focus on sustainability and resilience

As the global population grows and the impacts of climate change intensify, this decision represents a pivotal move towards building sustainable and resilient food systems worldwide. The World Bank is committed to promoting the development and adoption of climate-resilient crops as part of its broader sustainability strategy.

“Repurposing these funds toward climate action could unlock substantial resources, opening new opportunities for innovation and growth in the agricultural sector.

Empowering rural communities

The additional funding will prioritise efforts to combat climate change, connect farmers to digital platforms, and strengthen the sector’s resilience through enhanced guarantees and insurance solutions. Smallholder farmers, who often struggle with limited access to financing, digital tools, and markets, are a key focus of this initiative. By providing targeted support, the World Bank aims to empower rural communities through improved infrastructure and better access to global markets, ultimately boosting productivity and fostering economic stability.

Strengthening global partnerships

The World Bank collaborates with organisations and the public and private sectors to maximise the impact of its investments. This approach helps countries develop farm-related regulations and work with producers to enhance productivity and scale operations. As part of this initiative, the World Bank also highlights the potential to assist governments in redirecting approximately $1.25 trillion currently allocated to fossil fuel, agriculture, and fishery subsidies. Repurposing these funds toward climate action could unlock substantial resources, opening new opportunities for innovation and growth in the agricultural sector.