By 2050, there will be two billion more people in the world; a 70 percent increase in global food production will be needed to feed them. Most of the additional investment must come from the private sector.
While sustainability, pressure on natural resources, climate change, and access to affordable food remain key challenges, they also present opportunities. Agricultural development has tremendous potential to enhance food security while creating opportunities and raising income for the world’s poor, three-quarters of whom live in rural areas. In low-income countries, the agricultural sector often accounts for half or more of GDP and 60 to 80 percent of total employment.
IFC, a member of the World Bank Group that works with the private sector to improve the livelihoods of the poor, has made food security a strategic priority. We work with our client companies to raise agricultural productivity in developing countries while also supporting policies to protect land rights for the most vulnerable small farmers. In addition, we work with the World Bank to help governments put transparent laws in place.