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Just ahead of the G8 summit on May 19 at Camp David, a new report by the ONE Campaign highlights the opportunity to focus on real and sustained investments in African agriculture that could impact the lives of millions. The report includes very timely recommendations for the heads of the G-8 and other world leaders:
Createa New G8 Food Security Initiative. As the G-8 prepares to meet next month at Camp David, the lack of progress on food security is of great concern. The L’Aquila Food Security Initiative (agreed upon at the 2009 G8 summit) has seen inadequate progress and the financial pledges are set to expire this year. ONE argues that a new global compact on food security should include a commitment to provide at least $12 billion in additional funding, focus on country ownership, and create clear goals and outcome targets.
Galvanize Sustainable Private Sector Investment. The private sector has a crucial role to play in African agriculture, and investments are needed to improve seeds and fertilizers, farming practices, distribution and marketing, among others. African governments should focus on attracting the private sector by creating policies and regulations to improve the business climate, safeguard land rights, and improve rural infrastructure and regional integration.
Address Structural Problems and Price Volatility. Food prices have remained high and unpredictable since the global food crisis in 2007/8, which continues to push millions further into poverty. The ONE report argues that world leaders must adhere to the Agriculture Action Plan (agreed at the Cannes G20 in 2011) and undertake financial market reforms as recommended by the Financial Stability Board. It also suggests that the European Union should create a regulatory body similar to the US Commodities Futures Trading Commission.
At CGD, we have convened a working group on the Rome-based agencies (FAO, WFP and IFAD), to suggest ways in which these agencies can work together to address hunger and food security. The group will also focus on how to make member states more accountable for their actions related to food and agriculture, especially when these actions have wide-ranging impacts regionally and globally.
CGD blog posts reflect theviews of the authors drawing on prior research and experience in their areas of expertise. CGD does not take institutional positions.
Senator Bob Corker (R-TN) and Representative Ed Royce (R-CA) have teamed up with Democratic colleagues Senator Chris Coons (D-DE) and Representative Earl Blumenauer (D-OR) to introduce new legislation that would reform US international food aid to deliver more help to more people in crisis, faster.
As donors gather next week in Rome to pledge funds to the International Fund for Agriculture Development , they may be wondering where the United States is. Given the generally high marks this independent fund earns for development effectiveness, the uncertainty around a US pledge is troubling. In this “America First” moment, it’s worth asking when it comes to IFAD, what’s in it for the United States and what will be lost if the United States drops out?
One of the mysteries of development economics is why more people in subsistence agriculture don't migrate to cities where incomes are much, much higher. New data suggests one answer: when they move, their incomes may not go up as much as we thought.
Members of the World Trade Organization will be meeting next week in Buenos Aires to discuss the future of agricultural and other trade policies that could have important implications for food security and jobs in developing countries (eventually). And members of the US House and Senate agricultural committees will be meeting through next year to craft a new five-year farm bill that will help shape global markets and determine how much and how quickly US food aid can be delivered to people in desperate need around the world.