Financing the Future of Food: A Call to Action
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The Challenge
The global food system faces unprecedented challenges. Despite reaching a historic high of US$223.7 billion in total official development assistance (ODA) in 2023 [1], the resources needed for sustainable food systems and rural development far outstrip available funds.
This situation calls for a profound rethink of how limited ODA resources can be best used. At this year’s Annual General Assembly of the Global Donor Platform for Rural Development (GDPRD), the focus will be on “Financing Food Systems Transformation and Rural Revitalization: Opportunities and Challenges”.
The AGA aims to be an informative and participatory event centred around a series of though-provoking questions. To guide our discussions, we have prepared a draft background paper and summary that outlines the challenges and opportunities for transforming food systems and rural development financing.
The paper provides context on key points, including:
- The substantial gap between available resources and the financing required for sustainable food systems.
- The critical role of leveraging official development assistance (ODA) to attract additional public and private investments.
- The potential of innovative financing models, such as blended mechanisms and climate finance to bridge these gaps.
- The importance of reforming public finance to align with sustainability goals.
The paper underscores the urgency of rethinking financing strategies to meet the Sustainable Development Goals (SDGs), especially in fragile and conflict-affected areas.
Join the AGA discussions
Contribute your insights during the AGA. Explore actionable strategies to tackle these pressing issues and prepare for the Fourth International Conference on Financing for Development (FfD4) in 2025, set to address global financing needs. Your expertise and participation are vital in shaping a more sustainable, equitable, and resilient future for rural communities worldwide.
I know that’s an unpopular thing to say, but unless we reinvent donor financing and pull all the tools that we have available to us, we will still be talking about the 33 to 50 billion gap rather than the ability to reposition food system and food security as an incredible investment opportunity for the 21st century.
– Interviewee
Note: This background paper is based on a thorough review of recent reports and studies on food systems and rural development financing. It incorporates insights from ten key informant interviews with experts, practitioners, and development partners from the public and private sectors as well as the GDPRD’s webinar series on critical food systems financing issues. The paper is currently in unedited draft form and will be finalized as a GDPRD publication after inputs from the AGA.
