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FAO, IDB Sign $1Bn Agricultural Development Pact
11/16/2009 1:11 AM  ET
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(RTTNews) -  Ahead of a major summit on food security Monday, the United Nations' efforts to strengthen agriculture and enhance food security received a boost following the signing of two pacts with the Islamic Development Bank and a leading Brazilian university (IDB).

The U.N. Food and Agriculture Organization (FAO) and IDB inked $1 billion agreement in Rome Sunday that will fund agricultural development in 26 of the poorest countries that are members of both the Bank and FAO, besides help leveraging additional resources. The agreement will bring the total investment in the IDB-FAO program to $5 billion by 2012.

Noting that the agreement comes at a critical moment--when the international community belatedly recognizes the fact that it has neglected agriculture for many years--the FAO said in a news release that sustained investment in agriculture--especially smallholder agriculture--is acknowledged as the key to food security.

The Rome-based food agency added that both FAO and IDB share the same vision and strategy, and will continue to work together in improving rural infrastructure, promoting local economic development and enhancing food security while strengthening and revitalizing their cooperation.

The FAO has also launched an online campaign calling on the general public to sign a call for eradicating hunger and asked people to go on a "hunger strike against hunger."
In a second agreement that the FAO signed, scientists from the Universidade Federal de Viçosa (UFV), one of Brazil's leading academic institutions specializing in food and agriculture, will make available their expertise to the U.N. agency for its agricultural development programs in Latin America and Africa.

The university will also facilitate access by students from developing countries supported by FAO to its capacity-building and human resources development programs.

The two agreements came as more than 60 heads of State and government are scheduled to meet in Rome at the World Summit on Food Security to build political momentum for more investment in agriculture aimed at boosting agricultural production and eradicating hunger, a scourge affecting one billion people worldwide.

Ahead of the gathering, the FAO, the World Food Program (WFP) and the International Fund for Agricultural Development (IFAD), dealing with the vital issue, launched strategy to enhance collaboration between them.

According to a joint statement issued by the three Rome-based U.N. agencies, the move is a culmination of a two-year effort to advance joint action to help developing nations address food insecurity by investing in agriculture and safety nets, and to address hunger exacerbated by the food and financial crises and climate change.

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