ECOSOC Forum on Financing for Development Follow-Up General Debate

The Compromiso de Sevilla clearly articulates the importance of addressing food security and nutrition, as well as investing in agrifood systems. While the multiple economic, environmental and social benefits of this investment are known, the gap in financing this transformation through 2030 is estimated at around USD 680 billion annually. Moreover, this investment is often fragmented across different sectors and frameworks, making it less efficient and less effective.

FAO seeks to address these challenges by generating robust data and analysis to develop tailored solutions and instruments, including innovative financing, that addresses countries' diverse risk profiles and obstacles to access finance.

FAO supports Members to unlock private investment by leveraging advanced data tools and technology to provide key evidence to prompt action with key initiatives such as the Financing for Shock-Driven Food Crises (FSFC) Facility geared towards triggering anticipatory action and financing; and the Hand-in-Hand Initiative centered on targeted investments that are profitable and support social and environmental objectives.

Given the current global landscape, we consider the balance of payment support to vulnerable countries like the IMF's balance of payment facilities and its Food Shock Window, which builds on FAO's Food Import Finance Facility proposal, is crucial. FAO is also proposing to adapt such mechanisms to include inputs.

Before closing, FAO looks forward to actively engaging in the next Forum to discuss, inter alia, advancing debt swaps for food security and nutrition.