Global Trust Fund Launched to Support Small Farmers

On 22 April 2010, the United States, Canada, Spain, South Korea and the Bill & Melinda Gates Foundation launched a new global trust fund to aid small-scale farmers and spur agricultural growth in countries struggling to produce enough food to and to build their economies.

Initial contributions to the fund total $880million, representing an important step toward mobilizing the $22 billion in food security pledges made since the food crisis erupted in 2008.

“This renewed investment in agricultural development is excellent news for our small farmers, who face degraded soil, pests, disease, and a changing climate as they struggle to feed their families and overcome poverty,” said Kofi Annan, former U.N. secretary-general and current chair of the board of the Alliance for a Green Revolution in Africa (AGRA). “The multi-donor trust fund is a smart and efficient way to harmonize donor support with country-led efforts that are already showing impressive results. With solid and sustained investments in agriculture and strong partnerships across sectors, we can build on this progress and create a more just and food-secure world.”

The new fund, the Global Agriculture and Food Security Program, will be housed in the World Bank. It will include a U.S. commitment of $475 million, $230 million from Canada, $95 million from Spain, $50 million from South Korea and $30 million from the Bill & Melinda Gates Foundation.

####

About the Alliance for a Green Revolution in Africa (AGRA)
AGRA is a dynamic partnership working across the African continent to help millions of small-scale farmers and their families lift themselves out of poverty and hunger. AGRA programmes develop practical solutions to significantly boost farm productivity and incomes for the poor while safeguarding the environment. AGRA advocates for policies that support its work across all key aspects of the African agricultural value chain ­from seeds, soil health and water to markets and agricultural education.

AGRA's Board of Directors is chaired by Kofi A Annan, former Secretary-General of the United Nations. Dr Namanga Ngongi, former Deputy Executive Director of the World Food Programme, is AGRA's president. With support from The Rockefeller Foundation, the Bill & Melinda Gates Foundation, the UK's Department for International Development and other donors, AGRA works across sub-Saharan Africa and maintains offices in Nairobi, Kenya, and Accra, Ghana.