The Global Harvest Initiative (GHI), a partnership among Archer Daniels Midland Company, DuPont, John Deere, and Monsanto, released its final policy issue brief which estimates a $90 billion annual agricultural investment gap and outlines the significant role of the private sector in closing this gap and addressing global food security.
The policy issue brief, “Enhancing Private Sector Involvement in Agriculture and Rural Infrastructure Development,” points to the private sector as one of the key influencers in creating economic growth, raising global incomes, and feeding a population anticipated to reach 9 billion people by 2050.
“With a $90 billion annual investment gap in the agricultural sector of developing countries, the task of doubling agricultural productivity in 40 years is a formidable one,” said Dr. William G. Lesher, executive director of the Global Harvest Initiative. “There are simply not enough resources in either developed or developing nations to bridge this sizable gap, so enhanced private sector involvement is the key to improving agricultural and rural development to ensure that the world’s future agricultural needs are met.”
The policy issue brief outlines several recommendations to enhance private sector involvement, including the importance of establishing government/industry partnerships, working to improve the business climate and rural infrastructure in developing countries, and encouraging these countries to devote more resources for overall development to attract private capital.