On Tuesday, the Investment Centre of the Food and Agriculture Organization of the United Nations (FAO) celebrated its 60th anniversary, marking six decades of exceptional support in agrifood investments. The ceremony took place during the World Food Forum, attended by high-ranking government officials, senior leaders from major financing partners, and private investors.
Over its 60-year history, the Investment Centre has played a crucial role in designing more than 2,400 partner-financed projects across 157 countries. When adjusted for inflation, these projects have resulted in over $257 billion in public investment. This significant trend of partnership and investment is set to continue, with new collaborations emerging with institutions like the Asian Infrastructure Investment Bank, the European Investment Bank, and the New Development Bank.
Qu Dongyu, the Director-General of FAO, opened the event by reflecting on the Centre’s historical impact and its ongoing role in shaping agrifood investments. He recalled that shortly after the Centre’s first cooperative agreement with the World Bank was signed in 1964, FAO became a trusted partner, leveraging its world-class technical expertise in food and agriculture to bring together governments, financiers, investors, farmers, and entrepreneurs.
The Investment Centre has significantly expanded its network of investment partners over the years. It has collaborated with various institutions, including the International Fund for Agricultural Development (IFAD), regional development banks, the European Bank for Reconstruction and Development (EBRD), the European Union, and the Green Climate Fund, among others.
Under Qu’s leadership, the Investment Centre has undergone reforms aimed at better assisting countries in achieving quality impacts on a larger scale. This aligns with FAO’s Four Betters initiative, which promotes better production, better nutrition, a better environment, and a better life for all.
Axel Van Trotsenburg, the Senior Managing Director of the World Bank responsible for Development Policy and Partnerships, praised the Investment Centre for its technical expertise and investment knowledge in agrifood investments. He called for greater efforts to enhance these partnerships further.
The Investment Centre’s multidisciplinary team, combining technical knowledge from various sectors with investment expertise, is increasingly recognized as a go-to source for tailored investment and finance solutions. This approach involves close collaboration with countries and financing institutions to design investment strategies, policies, and projects that will shape the future of agrifood systems.
A significant focus of the Centre’s work is on innovative approaches that enhance food security, climate resilience, and financial inclusion, particularly among small-scale farmers and producer organizations. The Investment Centre is ramping up its initiatives on sustainable value chain development, decarbonization, digital agriculture, and innovative finance.
The 60th anniversary celebrations featured keynote addresses from leaders of both EBRD and IFAD, long-standing partners of the Investment Centre. Odile Renaud-Basso, President of EBRD, emphasized the fruitful 27-year partnership with FAO, highlighting their mutual commitment to sustainable development and fostering private sector growth. She acknowledged the importance of FAO’s extensive knowledge and networks, especially in regions like sub-Saharan Africa and Iraq, where the Bank is expanding its operations.
Katherine Meighan, Chief Legal, Governance Officer, and Associate Vice-President of External Relations at IFAD, praised the 47-year collaboration with FAO’s Investment Centre in advancing sustainable rural development and transforming food systems. She stressed the need for increased engagement with the private sector to build resilience among rural communities through investments in climate adaptation, biodiversity protection, and nature-based solutions.
Mohamed Manssouri, Director of the FAO Investment Centre, moderated a panel discussion focused on generating more and better public and private investment to accelerate the transformation of agrifood systems at the country level. The discussion also explored future collaborations with FAO.
Abubakar Kyari, Nigeria’s Minister of Agriculture and Food Security, highlighted FAO’s support for governments in addressing global climate challenges and enhancing the livelihoods of smallholder farmers. Shobha Shetty, the World Bank’s new Global Director for Agriculture and Food Global Practice, shared insights on the unique and successful 60-year collaboration. This partnership has expanded its focus beyond merely increasing agricultural productivity to transforming agrifood systems and adapting to climate impacts. She noted the growing emphasis on youth entrepreneurship, mobilizing private capital, digital innovation, and empowering women within agrifood systems.
Another notable partner is the Italian development bank Cassa Depositi e Prestiti (CDP). Paolo Lombardo, Director of CDP’s International Cooperation and Development Finance, emphasized the catalytic role of public finance institutions in supporting the private sector through financial backing and technical assistance. He introduced CDP’s partnership with the Investment Centre and the European Commission on the TERRA initiative, which aims to promote a sustainable and resilient transformation of agrifood systems by improving value chains.
Ghita El Ghorfi, General Manager of FOODEX, a public body dedicated to Morocco’s agrifood export sector, discussed how the partnership between FOODEX, EBRD, and FAO has successfully unlocked investments in local value chains, focusing on social and environmental sustainability.
FAO Chief Economist Máximo Torero concluded the event by praising the dedication and efforts of the Investment Centre’s staff and partners. He acknowledged the Centre’s unique business model, which emphasizes collaboration with countries and financing partners, as a formula that has proven successful over the years.
As the Investment Centre embarks on its next decade, it remains committed to advancing sustainable agrifood investments, addressing climate challenges, and improving the livelihoods of farmers worldwide. The collaborative spirit embodied in its partnerships and innovative approaches will be crucial in tackling the complexities of modern agrifood systems and ensuring food security for future generations.
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