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European Union

European Investment Bank Strengthens Partnerships to Promote Food Security and Sustainable Agriculture

Strategic Insights

— 2 min read

The European Investment Bank has formalised its partnership with the World Food Programme, extending its impact in fragile contexts, and reinforced its commitment to supporting sustainable agriculture in sub-Saharan Africa through a renewed memorandum of understanding with the Food and Agriculture Organization of the United Nations. The EIB also joined the Global Alliance Against Hunger and Poverty, solidifying its mission to eradicate hunger and extreme poverty. These partnerships and commitments are aligned with the EU's Global Gateway, aiming to support at least €100 billion of investments by 2028. The EIB's President, Ambroise Fayolle, stated that these partnerships and initiatives will improve and expand support to those who need it most, enhancing food security and nutrition, empowering farmers, and promoting sustainable agriculture.

Key Takeaways:

  • The European Investment Bank (EIB) formalised a partnership with the World Food Programme (WFP) through a Memorandum of Understanding (MoU) to enhance cooperation in climate resilience, food security and nutrition, critical agricultural infrastructure, innovative financing instruments, and inclusive access to finance for agricultural SMEs and smallholder farmers.
  • The EIB extended its partnership with the Food and Agriculture Organization of the United Nations (FAO) to 2030, aiming to promote sustainable agriculture in sub-Saharan Africa by providing €1.4 million to the FAO for technical assistance in identifying and preparing projects that support sustainable and climate-resilient agriculture.
  • The EIB joined the Global Alliance Against Hunger and Poverty, committing to support the alliance's integrated, multi-level approach combining social protection with access to essential services in education, health, finance, and agriculture.
  • The EIB will support the alliance's initiatives, focusing on building better-integrated finance for sustainable development goals (SDGs) 1 and 2, and scaling up finance for climate-resilient social protection and smallholder agriculture.
  • The EIB's commitments are in line with its mission to eradicate hunger and extreme poverty, and with the EU's Global Gateway, aiming to support at least €100 billion of investments by 2028.

Statistics:

  • Over the 2014-2023 period, EIB lending outside the EU totalled more than €70 billion, with a significant share supporting infrastructure, climate, and food security.
  • The EIB has provided €1.4 million to the FAO for technical assistance in identifying and preparing projects that support sustainable and climate-resilient agriculture.
  • The Global Alliance against Hunger and Poverty has already achieved great results for beneficiary countries, with two approved operations unlocking a €130 million credit line to support local banks lending to smallholders and agri-SMEs across sub-Saharan Africa.

Sources:

  • European Investment Bank
  • World Food Programme
  • Food and Agriculture Organization of the United Nations
  • Global Alliance against Hunger and Poverty
  • FAO Investment Centre
  • WFP The World Food Programme is the world's largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity, for people recovering from conflict, disasters and the impact of climate change.

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