FAO calls for increased financing for gender equality in agrifood systems at CSW68

11-22 March, New York – Empowering women and investing in gender equality is a must to have resilient, inclusive and sustainable agrifood systems, said FAO at the 68th session of the Commission on the Status of Women (CSW68) in New York in March 2024.  

In its intervention during the General Debate, FAO advocated for investment in solutions which have proven to work and require scale – such as improving women's ownership and registration of land, investing in social protection and formal childcare for women in rural areas, and adopting approaches which combine increasing access to assets and resources with reducing and addressing discriminatory social norms.  

FAO also highlighted that closing the gender gap in agrifood systems is essential to building the resilience of households to shocks and crises. In a recently published report titled ‘The Unjust Climate’, FAO has estimated that for every 1 degree increase in global temperatures, the losses suffered from climate change by female-headed farming households are 34 percent higher than male-headed households.  

Commit to Grow Equality 

Citing evidence of the potential positive impact on the global economy and food security of millions of people from its 2023 report on ‘The Status of Women in Agrifood Systems’, FAO launched a powerful call to action on the sidelines of CSW68 encouraging stakeholders to commit to significant financing and partnerships that can increase gender equality and women's empowerment in agrifood systems. 

The launch event, hosted by the FAO Liaison Office in New York, took place with high-level speakers and participants at the United Nations headquarters on 13 March 2024. It served to kick off a global process, titled Commit to Grow Equality, that seeks to bring together governments, philanthropy, the private sector, United Nations and multilateral agencies, civil society organizations and others in a global commitment to make agrifood systems work better for women. 

“Let’s pursue ambitious commitments to realize the food security and economic gains on the table if women are able to fully contribute to agrifood systems around the world,” said Jennifer Klein, Assistant to the President of the United States and Director of the White House Gender Policy Council, addressing participants during the event. 

FAO is now working with partners within the contours of a structured process and a matrix of proposed commitments focused on increasing financing for empowering and transformative approaches, as well as specific investment and partnerships around promising solutions.  

Mitigating and preventing food crises and transforming agrifood systems 

During a side event co-organized by FAO and the African Development Bank (AfDB) on 15 March 2024, speakers discussed innovative financing mechanisms that can contribute to the mitigation and prevention of food crises and transformation of agrifood systems in favor of gender equality and women’s empowerment. 

The Permanent Representatives of Senegal and Luxembourg to the United Nations in New York highlighted examples of policy priorities and financing initiatives undertaken to promote women’s empowerment and gender equality, such as the gender-focused bonds emitted by the Luxembourg Stock Exchange.   

FAO delved into key findings from its ‘Status of Women in Agrifood Systems’ and ‘Unjust Climate’ reports to illustrate the lack of – and urgent need for – direct investment into gender programming from both bilateral and multilateral donors and governments. Panelists from AfDB, USAID and IFAD then shared examples of successful strategies and actions, such as the USAID-funded Climate Gender Equity Fund launched at COP27 and the Gender Transformative Mechanism in the Context of Climate Adaptation implemented by IFAD.  

Alternative Approaches to Collateral to Increase Rural Women’s Access to Finance 

In addition to the in-person events held at the United Nations headquarters, FAO also organized a virtual side event together with the African Rural and Agricultural Credit Association (AFRACA) on ‘Alternative approaches to collateral to increase rural women’s access to finance’ on 13 March 2024. 

One of the main obstacles encountered by smallholders and women-owned small- and medium-sized enterprises is the lack of access and ownership of traditional collateral. This makes it difficult for them to obtain loans or access other financial services, build up a credit history, and ultimately develop businesses. ‘Collateral alternatives’ is a catch-all concept that describes a variety of alternative approaches and instruments that can be used to successfully help women access finance even without traditional collateral.  

“If banks can shift from a one-size-fits-all approach to one that provides a more personalized experience, demonstrating a better understanding of women-owned businesses, then the prospects of serving women becomes brighter,” said Thomas Essel, Secretary General of AFRACA. 

The panel discussion featured representatives of the Women in Agriculture Initiative of Root Capital, Mennonite Economic Development Associates (MEDA) and civil society organizations from Burkina Faso and Kenya who focused on a range of solutions that can improve financial inclusion of rural women.  

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