Hand in Hand Investment Forum: Spotlight on Sahel and Dry Corridor regional initiatives
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Figure: Grinding grains in Niger. ©FAO/Luis Tato
FAO 24/10/2023
Rome --Governments from two critical regions, Central America’s Dry Corridor and Africa’s Sahel, presented dozens of projects aimed at boosting agricultural production and food security in a sustainable and profitable way at the Hand-in-Hand Investment Forum 2023
Participating governments met with traditional donors, multilateral development banks and representatives of the private sector and foundations at the national government-led event, organized by the Food and Agriculture Organization of the United Nations ( FAO) and held during the World Food Forum (17-20 October)
While some 31 countries pitched national-priority investable projects in agrifood systems, all of them benefiting from FAO’s specialized technical analysis and investments expertise, considerable attention was given to two regional initiatives involving multiple countries facing similar challenges. The two initiatives generated more than $6 billion in pitches, for around 110 investments and affecting 149 million beneficiaries, ranging from small-scale irrigation networks and water storage facilities to digital soil mapping and measures to boost regional trade.
The Hand-in-Hand Initiative is a country-owned and country-led process and FAO contributes specialized technical support, including through its cutting-edge Geospatial Platform that can help identify areas with underutilized agricultural potential and high socio-economic impact, said Director-General QU Dongyu.
Central to the Initiative’s approach is partnerships and the unique matchmaking in investments and derisking of agrifood value chains for the vulnerable that have left people in these regions behind, opening the way for international financial organizations, private sector actors and philanthropic foundations to support sustainable agrifood systems transformation. “Without investment there is no future,” Qu said.
The Dry Corridor and Sahel both face shared issues, especially drought and inadequate management of water resources that trigger conflicts and forced migration, so crafting joint solutions can make it easier to help Members attract partners and investors. “We believe we can come with a holistic approach complementing existing initiatives but at the same time prioritizing investments which are common across each of the two regional initiatives that will allow them to move out of the critical situation they are in” said Maximo Torero, Chief Economist of FAO.
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