FAO statement at Informal Consultations on the High-level Dialogue on Financing for Development

Excellencies, Distinguished Delegates, Ladies and Gentlemen, All protocol observed,

On behalf of the Food and Agriculture Organization of the United Nations I am pleased to deliver a statement on the thematic of Financing for Development related to the preparation of the 2023 High-Level Dialogue.

FAO welcomes the draft outline of the upcoming High-Level Dialogue on Financing for Development which will take place on September 20, 2023 at the margins of the United Nations General Assembly 78.

The Global Economic Outlook remains fragile and highly challenging especially for low income countries and countries in food and protracted rises.

In the last three years, agrifood systems were hit by two consecutive shocks consisting of unprecedented supply chain disruptions followed by severe food and fertilizer shortages and energy price increases, including those related to the war in Ukraine.

Higher prices have increased the global food import bill to an estimated all-time high surpassing USD 1.94 trillion, adding an additional USD 180 billion over the previous record, stressing further the balance of payments, especially for net-importers of food.

As many as 828 million people faced chronic hunger in 2021, 150 million more people since 2019 the year, before the outbreak of the COVID-19 pandemic.

A record number of 222 million people suffer from acute food insecurity in 53 food crisis countries and territories according to September 2022 estimates.

The challenges faced by agrifood systems have been compounded by the worsening effects of climate change and the increase frequency and intensity of extreme weather events such as heat waves, floods and droughts.

Between 2008 and 2018, 26 percent of the overall effects of climate change loss and damages affected the agriculture sector – including agriculture, forestry and other land uses as well as fisheries and aquaculture.

Investing in food and agriculture is an effective strategy to alleviate poverty, fight hunger, boost productivity accelerate structural transformation and inclusive industrialization. This is what history has shown us.

To achieve inclusive transformation we need to increase the amount and efficiency of public expenditures from all sources to developing countries’ agrifood systems. Domestic agricultural subsidies are in urgent need for re-direction towards research and technology dissemination, infrastructure, marketing services.

ODA for agrifood systems has stagnated and needs to be increased. Challenges related to green financing (such as high risk) need to be addressed.  

Agrifood systems are a major employer of women globally and constitute a more important source of livelihood for women than for men in many countries.

To address all these challenges FAO has decided to play a concrete role towards the 2025 Fourth World Conference being a key player in the achievement of the Addis Ababa Agenda and future agreements, and to financing for sustainable development.

To this extent, FAO would be pleased to have a space in one of the official sessions of the 2023 High-Level Dialogue, to bring mitigation and prevention of food crises and agrifood systems transformation on the table with the lens of supporting and advancing the means of implementation of the 2030 Agenda for Sustainable Development.

Thank you.