$10 Billion Food System From BidenS President Joe Biden announced a $10 billion commitment to improving the food system last week while addressing the UN General Assembly.
Timed just ahead of the UN Food Systems Summit, held via video conference on September 23rd, Joe Biden said the package was designed to stabilise food prices and improve nutrition both at home and abroad.
He said, “Nearly one in three people globally do not have access to adequate food.”
He said it was critical for the food system to be more efficient so it caused less environmental damage and met the world’s food needs. $10 Billion Food System From Biden
Half the sum announced would be spent in the US on healthy diets and improved supply resilience, along with climate-friendly agriculture and forestry adaptations. More money will be spent on getting a healthy school meal to all American children.
The other $5 billion would support government’s global Feed the Future programme, including expanding it to new countries over the next five years
“$60 million will go to research for reducing food loss and waste”
The US International Development Finance Corporation (DFC) would spend $1 billion on debt and equity financing and political risk insurance for private sector projects tackling agriculture, irrigation, food processing logistics, and fintech.
USAID is set to invest $60 million over five years in research to reduce food loss and waste.
And a new virtual fellowship program for 100 female policymakers in Africa has been launched to include more women in creating food-secure communities.