(Picture: Canva)
Comprehensive Plan Aims to Transform the Regional Agricultural Sector
The Development Bank of Latin America and the Caribbean (CAF) reaffirms its commitment to the sustainable development of Latin America and the Caribbean by announcing a significant investment of US$ 8.5 billion in the agricultural sector by 2030. The initiative, called “Agricultural Prosperity,” has the primary goal of strengthening food security and boosting rural development in the region, promoting sustainable, resilient, and regenerative production practices.
Sergio Díaz-Granados, CAF’s executive president, highlighted that this strategy represents a “renewed scenario for action, which allows us to increase and deepen investment throughout the entire value chain.” He emphasized that the allocated amount will double the multilateral bank’s accumulated investment in the sector. “This will be done through CAF’s entire range of financial and knowledge services, and also in collaboration with strategic allies such as FAO [Food and Agriculture Organization of the United Nations], IICA [Inter-American Institute for Cooperation on Agriculture], 1 WFP [World Food Programme], and IFAD [International Fund for Agricultural Development], contributing to strengthening our region of global solutions,” he stated during the launch event.
Focus on Sustainable and Resilient Practices
The strategy launch took place at FAO’s regional headquarters in Chile, providing a space for a high-level dialogue on the future of the agricultural sector both in the region and globally.
Máximo Torero, FAO’s chief economist, emphasized that Latin America and the Caribbean still face significant challenges in transforming their agricultural sector. “We cannot address these challenges with isolated solutions; we must integrate sustainable practices throughout the entire production chain. Investing in this sector contributes to the restoration of ecosystems, the stability of markets, and the well-being of communities, ensuring that resources reach those who need them most,” he stressed.
Key Objectives of the “Agricultural Prosperity” Strategy
During the event, experts pointed out that the strategy will focus on three primary objectives: strengthening food and nutritional security by encouraging sustainable food systems; contributing to the development of rural territories by improving infrastructure and opportunities for family farming; and promoting environmental sustainability by fostering resilient and low-carbon agricultural practices.
Agriculture ministers from various countries in the region shared their perspectives on the future of the sector. Esteban Valenzuela Van Treek, Chile’s Minister of Agriculture, advocated for inclusive and healthy agriculture that reaches rural areas and the diversity of producers. Alfredo Fratti Silveira, Uruguay’s Minister of Livestock, Agriculture, and Fisheries, highlighted the sector’s relevance to regional identity and sovereignty, as well as the need to rethink the production model in the face of contemporary challenges.
Collaboration and Innovative Financial Instruments
Christian Asinelli, CAF’s corporate vice president of strategic programming, concluded the meeting, mentioning that the strategy seeks to generate significant returns for the countries in the region through collaboration with the private sector and the creation of innovative financial instruments.
Resumo em Português:
A CAF investirá US$ 8,5 bilhões na agricultura da América Latina e Caribe até 2030 para fortalecer a segurança alimentar e o desenvolvimento rural sustentável. A estratégia “Prosperidade Agropecuária” visa promover práticas sustentáveis, resilientes e regenerativas. A iniciativa será implementada em colaboração com organizações como FAO e IICA. O lançamento incluiu um diálogo de alto nível com foco em segurança alimentar, desenvolvimento rural e sustentabilidade ambiental, com a participação de ministros da agricultura da região. A CAF buscará parcerias com o setor privado e instrumentos financeiros inovadores.
Resumen en Español:
CAF invertirá US$ 8.500 millones en la agricultura de América Latina y el Caribe hasta 2030 para fortalecer la seguridad alimentaria y el desarrollo rural sostenible. La estrategia “Prosperidad Agropecuaria” tiene como objetivo promover prácticas sostenibles, resilientes y regenerativas. La iniciativa se implementará en colaboración con organizaciones como FAO e IICA. El lanzamiento incluyó un diálogo de alto nivel con enfoque en seguridad alimentaria, desarrollo rural y sostenibilidad ambiental, con la participación de ministros de agricultura de la región. CAF buscará asociaciones con el sector privado e instrumentos financieros innovadores.
