Agriculture, Public Banks platform is born for more ecological investments

More than 20 Public Development Banks announced today the launch of a platform aimed at intensifying green and more inclusive investments in agriculture and food processing, packaging and transport activities on their “farm to plate” journey. The platform was created on the initiative of the International Fund for Agricultural Development (IFAD), in collaboration with the French Development Agency (Afd) and Cassa Depositi e Prestiti (Cdp) and was presented during the ‘Finance in Common’ summit, the global summit of public development banks, now in its second edition, hosted by the Cassa Depositi e Prestiti in Rome and which brings together representatives of Governments, public development banks, international financial institutions, private companies, leading figures of civil society and organizations of farmers. The platform will help public development banks strengthen their capacities to reorient and increase their investments to promote greener and more inclusive food systems, in line with the Sustainable Development Goals established by the 2015 Paris Agreement. in response to an urgent call to increase funding for the world’s poorest farmers, those most affected by climate change, and less than two weeks before the COP26 international summit for climate negotiations in Glasgow. Public development banks are financial institutions controlled or financed by central or local governments that aim to promote the economic development of a country or region. Although very different from each other in size and activities, many of them need assistance to improve their governance and capabilities, to better focus green investments and more accurately document their social and environmental impact. as well as assess the relevant risks while remaining financially sustainable. In addition, many public development banks need to develop innovative tools to stimulate investment in agriculture by the private sector, as well as financial products more suited to the needs of small farmers and small and medium-sized rural entrepreneurs.