OPEC Fund Quarterly - 2024 Q4

THE DARK MATTER

“We need US$100 billion per year to reach the scale that we need to transform the agriculture sector and achieve the Sustainable Development Goals.”

Brenda Gunde, Global Lead, International

Fund for Agricultural Development (IFAD)

synthetic biology, gene editing, the Internet of Things, 3D printing and many more are allowing for greater yields, higher efficiency, less waste and an optimized use of – increasingly scarce – resources at a time when more and more soil is exhausted, water resources are drying up and the impact of climate change poses unprecedented threats. However, the road from the high- tech lab to the field remains long and winding. While the new technology holds great promise, it certainly does not come cheaply. “We need US$100 billion per year to reach the scale that we need

to transform the agriculture sector and achieve the Sustainable Development Goals,” warned Brenda Gunde, Global Lead, International Fund for Agricultural Development (IFAD). Given the huge amounts of money required experts warned of the danger that not everyone will benefit from the new opportunities in equal manner. “The dominance of small, fragmented landholdings hinders the scalability of digital solutions, together with limited availability, adaptability and affordability of digital tools for smallholder farmers,” said FAO’s Di Gianantonio.

From precision agriculture and data- driven insights to artificial intelligence, blockchain-enabled supply chains and mobile financial services, the wide array of digital tools holds the promise of empowering farmers, enhancing productivity and ensuring equitable access to nutritious food for all. Further developments including in robotics,

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