01 | LANDMARKS – FOOD SECURITY ACTION PLAN
The OPEC Fund Food Security Action Plan was designed to make a real difference where it matters most.
The latter is an example of how the OPEC Fund’s plan addresses the urgent need for diversification in many of its partner countries, including leveraging domestic potential as well as creating more resilient import structures.
farmers and agribusinesses amid the current food supply disruptions.
Another US$15 million was loaned to a smallholder project in Zimbabwe. In response to the catastrophic floods in Pakistan, the OPEC Fund provided a US$1 million emergency relief grant specifically to address food security. The OPEC Fund’s approach to the food supply crisis is fully aligned with its Climate Action Plan, as food production accounts for some 40 percent of global greenhouse gas emissions. At the same time, the impacts of climate change are increasingly affecting agricultural yields, as extreme weather events occur with rising frequency and intensity. Longer-term responses to the food security crisis must support the development of sustainable and resilient agricultural systems.
Trade integration is also vital. Domestic plans need to be
coordinated to strengthen resilience and boost local as well as regional production capacities. Multilateral development organizations play a vital role in facilitating and coordinating such efforts. The Jordan loan was far from the only significant project under the Food Security Action Plan in 2022. The OPEC Fund also signed a US$30 million loan agreement with Banco Sudameris in Paraguay, with 40 percent allocated to support
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