WASHINGTON-- The World Bank Group announced on Wednesday a strategic pivot in its agribusiness approach, aiming to create a comprehensive ecosystem for the industry.


The initiative will unleash private Investment, boost productivity, and bolster climate resilience, according to a statement from the Group.
The shift will combine a new way of working with a new level of investment, doubling its agri-finance and agribusiness commitments to USD nine billion annually by 2030.


The new approach arrives as four trends fundamentally reshape the agribusiness landscape: climate change, innovations in finance, digitalization, and solutions to fragmentation.

It also aims to take advantage of the demand for food, which is set to increase by 60 percent in the coming decades and respond to a critical need for jobs in emerging markets. "We stand at a crossroads, and the path we choose today will determine the future," said World Bank Group President Ajay Banga.

The World Bank's ecosystem approach moves us beyond fragmented efforts to a constellation of solutions that includes everything from warehousing to logistics to production, but with smallholder farmers and producer organizations at the center."

The increase in agricultural Productivity and incomes will help create jobs, boost revenues, and improve the quality of food and nutrition. Climate-smart production practices will mean fewer emissions, cleaner air and water, and a better quality of life overall. 

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