DERAILING MOMENTUM
There is no doubt that the financial crisis roiling Europe has unsettled world markets, scrambled politics, shaken re-election prospects in several countries and darkened many 401-k prospects. But as the drama stretches on and on, another mighty impact is emerging: it is derailing the momentum to fight hunger and poverty through agricultural development.
The Euro crisis certainly overshadowed the G8 meeting in May. President Obama announced the New Alliance for Food Security and Nutrition before the leaders began their deliberations. But when the deliberating began, it was consumed by the politics and economics of the Eurozone. Earlier this week, the G20, meeting in Los Cabos, Mexico, was also preoccupied by the financial crisis. The G20 was supposed to be the setting to really move the needle on development challenges. While some of the G20 countries did support a new initiative to drive private sector investment into more innovative agricultural solutions, the G20 didn’t do much to put into action the Action Plan on Agriculture it had ballyhooed at its previous meeting in Cannes. As a number of advocacy groups noted, the focus was on more words rather than new action.
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The Power of Private Investment
The Power of Private Investment: Leveraging the Strengths of Business to Meet Food Security Goals - Open Table Dinner Series
On the eve of the 2012 G8 announcement of the New Alliance for Food Security and Nutrition, The Chicago Council on Global Affairs convened a small group of business, government, and civil society leaders from the U.S., Europe, and Africa to discuss the private sector’s role in meeting food security goals. This issue brief summarizes the dinner discussions.
May, 2012 -The New Alliance for Food Security and Nutrition announced at the Camp David G8 summit highlights the shared commitment among G-8 and African leaders, private business, and non-profit organizations to achieving global food security. Building on the commitments made at the L’Aquila G8 summit three years ago, it will spur US$3 billion in initial investment by private companies across the agricultural value chain. This private sector investment, coupled with sustained public sector support, may be the key to turning the New Alliance vision into a reality.
The challenge
Due to declining mortality rates and high birthrates, half of the world’s population growth over the next forty years will be in Africa—which will have twice the population of China in 2050. To meet this exploding demand for food and increased agricultural output, a new model is needed that brings governments, business, farmers, and civil society together to build lasting social, environmental, and economic change in the food sector in Africa and other parts of the world.
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