With most bilateral and multilateral aid allocations overlooking sector-specific programming, there is a gap in terms of available, unallocated capital to support country and regional agriculture and food security plans.
The Global Agriculture and Food Security Program (GAFSP) is a response to this gap and to specific calls to scale-up long-term agricultural and food security assistance to low income countries made at the G8 L’Aquila Summit and the G20 Summit in Pittsburgh. Today, the GAFSP is a multilateral trust fund that coordinates donor support for country-led agricultural and food security investment.
The GAFSP operates as a multilateral mechanism with pledges from the USA, Canada, Spain, Korea, Gates Foundation, and Ireland of $914 million over its first three years. Investments made already include support for:
- seed varieties and better water management techniques in Bangladesh
- improved access to seeds, fertilisers and technology in Haiti
- reduced hillside erosion and bolstering productivity in Rwanda
- collective action for commercialisation of smallholder farmers and farm management training in Sierra Leone
- affordable credit and better access to technology in Togo
The GAFSP includes both public and private sector financing windows. The public sector window assists strategic country-led or regional programs that result from sector-wide country or regional consultations and planning exercises such as CAADP in Africa. The private sector window is designed to provide long and short term loans, credit guarantees and equity to support private sector activities for improving agricultural development and food security.
The GAFSP is implemented as a Financial Intermediary Fund for which the World Bank serves as Trustee. The World Bank also hosts a small coordination unit that provides support to the GAFSP Steering Committee.
Countries in which GAFSP is active:
More on the GAFSP: