IDB commits up to $25 billion to fight hunger in Latin America and the Caribbean

03-12-24

As part of the Global Alliance Against Hunger and Malnutrition, the Inter-American Development Bank (IDB) has announced a financial commitment of up to $25 billion over the next three years. This effort is aimed at addressing the food crisis and promoting food security in Latin America and the Caribbean (LAC), a region where food insecurity affects millions of people.

The Global Alliance Against Hunger and Malnutrition is an initiative that seeks to mobilize international resources and efforts to ensure access to adequate and nutritious food for the most vulnerable populations. The IDB, as a strategic partner, will focus its efforts on promoting sustainable food production, improving agrifood systems and strengthening agricultural value chains.

“Hunger and malnutrition represent urgent and complex challenges in our region. This commitment reinforces our focus on sustainable and impactful solutions that benefit the most affected communities,” said Ilan Goldfajn, president of the IDB.

Latin America and the Caribbean face a critical situation: more than 131 million people are estimated to be food insecure, according to recent data from international agencies. The HIV/AIDS pandemic, global conflicts and climate change have exacerbated this problem, increasing food prices and reducing access to an adequate diet.

The IDB will focus on financing projects that address both immediate needs and structural challenges. This includes supporting small farmers, implementing innovative technologies for agricultural production, and strengthening public policies that promote food security and nutrition.

Priority areas of IDB intervention

The IDB's plan to contribute to the Global Partnership includes four key areas:

• Increasing agricultural productivity: investments in sustainable technologies, access to agricultural inputs and technical support to local producers.

• Reducing food losses and waste: Development of logistics infrastructures that improve the supply chain, as well as initiatives to minimize waste at every stage of the process.

• Improving access to nutritious food: Strengthening food assistance programs and promoting crop diversification to ensure a balanced diet.

• Adaptation to climate change: Implementing resilient agricultural practices that contribute to mitigating the effects of climate change on food production.

Collaboration to maximize impact

The IDB will work closely with governments, private companies, academic institutions and non-governmental organizations to design and implement comprehensive solutions. In addition, collaboration with other international agencies will allow for a strategic alignment of resources and expertise to address the multiple dimensions of the problem.

Program highlights include financing local initiatives that promote the empowerment of rural women, who play an essential role in agricultural production and food security in their communities.

The IDB has reaffirmed its commitment to the United Nations Sustainable Development Goals, in particular SDG 2: Zero Hunger. This financing is part of a broader strategy that also seeks to reduce inequality and improve the overall well-being of communities in Latin America and the Caribbean.

With this initiative, the IDB is not only contributing to mitigating the food crisis, but also fostering the creation of a fairer, more sustainable and resilient food system.

The challenge is enormous, but the IDB's commitment, together with the international community, represents a decisive step toward a world where no one has to face hunger.