IFC receives €100m for global food security

The International Finance corporation (IFC) and the Netherlands government have signed an agreement formalizing a €100 million contribution by the government to the Private Sector Window of the Global Agriculture and Food Security Programme (GAFSP).

The amount is to strengthen investment in food security in emerging market countries, the IFC said in a statement.

The agreement was signed by Lars Thunell, IFC Executive Vice President and CEO, and Ben Knapen, Minister for European Affairs and International Cooperation, government of the Netherlands.

GAFSP is a multilateral mechanism that assists in implementing pledges made by the global community to support investments in agriculture and food security.

The contribution by the Netherlands, together with the commitments made earlier by the US and Canada, the IFC indicated will enable the GAFSP Private Sector Window to reach total funding of approximately $200 million.

By Ekow Quandzie