IFAD President Urges G7 Investment in African Agriculture
Summary
IFAD President Alvaro Lario called on G7 Agriculture Ministers at their meeting in Syracuse, Italy on September 25, 2024, urging larger and more effective investments in small-scale agriculture across Africa. The President highlighted that small-scale farming supplies up to 70% of food in Africa and that economic growth in agriculture is two to three times more effective at reducing poverty and food insecurity than growth in other sectors. IFAD also announced that up to 60% of its core financing in the 2025-2027 project cycle will be invested in Africa.
“Estimates show that economic growth in agriculture is two to three times more effective at reducing poverty and food insecurity than growth generated in other sectors.”
About this source
GovPing monitors IFAD News for new government & legislation regulatory changes. Every update since tracking began is archived, classified, and available as free RSS or email alerts — 3 changes logged to date.
What changed
IFAD President Alvaro Lario delivered a call to action at the G7 Agriculture Ministers meeting advocating for increased investment in Africa's small-scale farmers and rural entrepreneurs. The President emphasized that small-scale farming supplies up to 70% of food in Africa and that agricultural development is the most effective poverty-reduction mechanism, being two to three times more effective than growth in other sectors. With crop yields expected to decline by up to 25% due to climate change and 20% of Africa's population undernourished, Lario urged G7 nations to support de-risking mechanisms to attract private sector investment and to prioritize sustainable agriculture, digitization, and access to finance for rural youth. IFAD confirmed it will direct up to 60% of its core financing to Africa in the 2025-2027 cycle.
This advocacy statement from IFAD carries no direct regulatory or compliance obligations for private entities. However, development finance institutions, multilateral lenders, and private investors operating in African agricultural markets should note the increased emphasis on de-risking mechanisms and digital connectivity as the preferred vehicle for attracting capital to rural food systems. Companies operating along African food value chains may benefit from or be affected by new investment frameworks designed to support small-scale producers and climate adaptation.
Archived snapshot
Apr 23, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
49th session of the Governing Council
Learn More
1. IFAD
2. News and Stories
3. News
4. Press Releases
5. IFAD President at G7: Bigger and smarter investments in small-scale agriculture are key to build a prosperous Africa
Press release | 25 September 2024
IFAD President at G7: Bigger and smarter investments in small-scale agriculture are key to build a prosperous Africa
Media contact Caroline Chaumont Communications Officer, Global Media
[email protected] Rome, Italy, 25 September 2024 — "Our first line of action against climate change, hunger and poverty is prosperous rural communities. Investing in small-scale farmers and rural entrepreneurs is the most effective way to unlock the immense potential of Africa’s agriculture and food systems for all," said Alvaro Lario, President of the UN’s International Fund for Agricultural Development (IFAD) heading to the G7 Agriculture Ministers meeting starting in Syracuse tomorrow.
The meeting will kick off with an unprecedented G7 Agriculture Forum for Africa - an innovation of the G7 Italian presidency - to continue to foster a dialogue between G7 and African nations on the opportunities and challenges in Africa’s agriculture sector.
“In Africa, food insecurity and climate change are damaging opportunities for the millions of young people entering the job market. Developing thriving rural economies that provide good food and decent jobs has a stabilizing power. Now is the time to invest at scale in Africa’s small-scale food producers - the backbone of Africa’s food security and development,” said Lario.
Small-scale farming supplies up to 70% of the food in Africa and provides livelihood opportunities to hundreds of millions of people, playing a pivotal role in the continent’s food security. Food and agriculture are also a vital part of African economies, a sector expected to be worth a trillion dollars by 2030. Estimates show that economic growth in agriculture is two to three times more effective at reducing poverty and food insecurity than growth generated in other sectors.
At the G7, President Lario will advocate for investment and policies that prioritize sustainable agriculture practices, support farmers to adapt to climate change and build resilience. Crop yields are expected to decrease by up to 25% by the end of the century due to the effects of climate change.
With millions of young people entering the job market every year in Africa, President Lario will also emphasize that digitization, “green skills” and technologies and access to finance can make rural areas more appealing to youth, and help them to create small businesses along food value chains.
President Lario will therefore call for more effective investments in innovations and digital technologies and connectivity as a game changer in efforts to transform rural areas. Connectivity enables farmers to better access crucial information on markets and weather, receive agriculture advice and pest or weather alerts, and access e-wallets and financial services.
With donor countries’ support to agricultural development stagnant at just 4-6% of total official development assistance over the last decade, and many African countries facing financial constraints, President Lario will highlight the need to innovate, and further develop and strengthen de-risking mechanisms to attract investments from the private sector, an approach that IFAD is pursuing.
IFAD has committed to investing in rural people in Africa to transform the agriculture sector and promote rural development. In its 2025-2027 project cycle up to 60% of IFAD’s core financing will be invested in the continent.
In Africa, 20% of the population – or one in five - is undernourished or suffers from hunger, affecting a total of approximately 300 million people.
Press release No.: IFAD/81/2024
IFAD is an international financial institution and a United Nations specialized agency. Based in Rome – the United Nations food and agriculture hub – IFAD invests in rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since 1978, we have provided more than US$24 billion in grants and low-interest loans to fund projects in developing countries.
A wide range of photographs of IFAD’s work in rural communities are available for download from its Image Bank .
Keep exploring
Press release
21 April 2026
IFAD and the Government of Côte d’Ivoire officially launched the Agro-Industrial Pole Project in the North-East, aimed at modernizing agricultural systems, increasing access to markets and building climate resilience throughout the Zanzan region. Read now Press release
16 April 2026
AFD and IFAD deepen partnership to boost rural development globally
Alvaro Lario, President of IFAD, and Rémy Rioux, Chief Executive Officer of Agence Française de Développement (AFD) signed a new agreement establishing a framework for co-financing development projects and programmes. Read now Press release
15 April 2026
IFAD joins Water Forward initiative launched at World Bank Group-IMF Spring Meetings
IFAD today joined the World Bank Group's Water Forward, a new global initiative that aims to deliver water security for up to 1 billion people by 2030. Read now Please configure the desktop menu widget below
About IFAD Who we are Where we work What we do Action Areas Knowledge & Data For Member States Member States interactive platform For Investors Investors Finance For Job seekers Work with us Frequently Asked Questions For Media News Media Contacts DigiHub Get Involved Join an event Rural Voices Opinions & Insights
Please configure the mobile menu widget below
Who we are What we do Where we work Action Areas Knowledge & Data Get Involved News and Stories
Legal Privacy notice Fraudulent job offers Contact us Connect with us
Related changes
Get daily alerts for IFAD News
Daily digest delivered to your inbox.
Free. Unsubscribe anytime.
About this page
Every important government, regulator, and court update from around the world. One place. Real-time. Free. Our mission
Source document text, dates, docket IDs, and authority are extracted directly from IFAD.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
Classification
Who this affects
Taxonomy
Browse Categories
Get alerts for this source
We'll email you when IFAD News publishes new changes.
Subscribed!
Optional. Filters your digest to exactly the updates that matter to you.