Financing Food Security and Food Systems Transformation

“Rethinking allocation of public spending in order to repurpose food and agricultural policies is urgently needed,” said FAO Deputy Director of Agrifood Economics division, Marco Sanchez, during a virtual session on “Financing Food Security and Food Systems Transformation.”

The event, hosted by ECDPM jointly with Food Systems for the Future and FAIRR, was part of the Second Annual Good Food Finance Week 2023.

“Worldwide Governments support to food and agriculture accounted for almost USD 630 billion per year on average between 2013 and 2018. Much of this support was not distributed equitably,” he underlined

The virtual session brought together leaders in the food and finance industries to discuss latest trends and innovations in financing sustainable food systems, with a view to making nutritious food affordable and accessible, improving fiscal resilience, and promoting long-term sustainable socio-economic growth.

Sanchez also talked about FAO’s work with Members in Africa and beyond through the Monitoring and Analysing Food and Agriculture Programme (MAFAP). MAFAP is used to strategically monitor, prioritize, reform and implement policies and investments on food and agriculture to accelerate inclusive agricultural transformation.

You can read more about FAO’s work on agrifood economics here.