World Bank of Agriculture

Approx. 3.25" Agricultural development is one of the most powerful tools to end extreme poverty, boost shared prosperity and feed 9 billion people by 2050. Growth in the agriculture sector is about two to four times more effective in raising incomes among the poorest compared to other sectors. This is important for 78 percent of the world’s poor who live in rural areas and depend largely on farming to make a living. Agriculture is also crucial to economic growth: it accounts for one-third of gross-domestic product (GDP) and three-quarters of employment in Sub-Saharan Africa. But agriculture-driven growth and poverty reduction, as well as food security are at risk: A warming climate could cut crop yields by more than 25 percent. Agriculture and land use change are also responsible for between 19–29 percent of global greenhouse gas emissions. Mitigation in the agriculture sector is part of the solution to climate change. Context Strategy Results Partners The World Bank works with countries to expand agriculture financing, improve irrigation and give women farmers the right tools and opportunities. The Bank provides innovation, infrastructure and resources so that the agriculture sector: •is Climate-Smart: more productive and resilient in the face of climate change while reducing emissions; •improves livelihoods and creates more and better jobs; •boosts agribusiness by building inclusive and efficient value chains; and •helps farmers produce safe, nutritious food for everyone, everywhere, every day. In 2016, new IBRD/IDA commitments to agriculture and related sectors were $2.9 billion. IBRD/IDA commitments are expected to increase in 2017. The International Finance Corporation’s (IFC) investments were 3.3 billion. World Bank IBRD/IDA agricultural assistance to Sub-Saharan Africa and South Asia were $.7 billion and $.8 billion respectively. IFC’s agricultural financing goes to agribusiness value chains. From 2014-16, 146 projects were implemented to provide 17 million farmers with agricultural assets and services. Four million farmers adopted improved agricultural technology. Three million hectares of agricultural land benefited from improved irrigation or drainage services. The Bank is a partner in the Consultative Group for International Agricultural Research (CGIAR), Global Agriculture and Food Security Program (GAFSP), the Global Food Safety Partnership (GFSP) and Global Alliance for Climate Smart Agriculture. Last Updated: Sep 22, 2016