Tuesday, June 30, 2009

Oxfam calls on G-8 to increase agriculture aid

The G-8 meets in Italy next week to talk about world issues. Ahead of the meeting of leaders of the eight richest nations, Oxfam asks that the countries commit to spending more money to help poor farmers.

From Reuters, reporter Lesley Wroughton summarizes the statement from Oxfam.

In a new report, Oxfam said agricultural assistance by Group of Eight donor countries had fallen sharply, to around $5 billion a year in 2007 from $20 billion in the 1980s.

"A substantial increase in long-term agriculture investments is loose change compared to ongoing investments in rich countries or the trillions of dollars spent globally this year on the financial bailout," said the report's author, Emily Alpert.

"Strengthening the agricultural sectors of developing countries is a crucial part of the long-term solution to the world's food, financial and climate crises," she added.

A devastating crisis in food prices last year, which led to increased hunger, malnutrition and the risk of social unrest in many poor countries, illustrated why investment in agriculture was necessary to boost global food supplies, Oxfam added.

Years of underinvestment have caused stagnating yields, degraded lands and a scarcity of fresh water in poor countries, it said.

Investment by donors, national governments and the private sector in poor countries should target women and help improve knowledge about environmentally-sustainable farming methods in the wake of climate changes, the report said.

In Africa, governments spend on average 4.5 percent of their budgets on agriculture, the report said.

1 comment:

Investment In Agriculture said...

Ya, according to current trends Investment in agriculture is necessary for global food suplies.

Thanks nice post.