Agriculture Finance

Paris Summit Paves Way for New Global Financial Framework Focused on Developing Countries

Paris Summit Paves Way for New Global Financial Framework Focused on Developing Countries

As world leaders gather in Paris for a pivotal summit on 22-23 June, the International Fund for Agricultural Development (IFAD) highlights the importance of supporting small-scale farmers. They have launched a campaign for this cause, debuting a poignant short film titled ‘A New Day.’

The Summit for a New Global Financing Pact aims to redesign the international financial system, focusing on directing more resources to the world’s poorest countries. The goal is to aid these countries in making sustainable investments, safeguarding the environment, and protecting their populations from the impacts of climate change.

IFAD’s Director of Global Communications and Advocacy, Hélène Papper, emphasized the transformative power of rural and agricultural investments. “Investments in rural areas can elevate millions of small-scale farming families from poverty and hunger. World leaders at the Paris Summit must acknowledge the potential of rural investments and ensure developing countries can access the required finance to stimulate their growth and adapt to climate change. A new day is indeed possible,” she said.

The film, produced by acclaimed filmmaker Jonathan Pearson, offers a glimpse into the lives of farming communities in Tunisia, one of the most challenging desert environments worldwide. Despite grappling with record-high temperatures and recurrent droughts, these communities are demonstrating resilience and adaptation to climate change, thanks to an IFAD-supported project.

Pearson stated, “The film aims to spotlight the vital work IFAD is performing while also portraying farmers as heroes who need continued support during these challenging times.”

The powerful narration in the film comes from Sabrina Dhowre Elba, accompanied by Nina Simone’s iconic song ‘Feeling Good,’ which was generously donated as the film’s soundtrack. Sabrina and her husband, Idris Elba, serve as UN Goodwill Ambassadors for IFAD.

Sabrina emphasized the urgency of the matter, saying, “It’s crucial not only to highlight the struggles of people currently bearing the brunt of climate change but also to learn from these farmers. Climate change and food insecurity impact us all. We need to urge our leaders to increase investments in organizations like IFAD that offer long-term solutions and promote change.”

As the Paris Summit progresses, the eyes of the world are on global leaders and their willingness to craft a new financial architecture sensitive to the pressing needs of developing countries, with a critical focus on agricultural and rural development.

Image provided by IFAD

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