October: Month of Food Security - Innovative financing is essential to increase agricultural production and fight hunger

A blog post by EU Commissioner, Neven Mimica, was writen to commemorate World Food Day, 16 October, at the Milan Expo. It highlights the fact that global food and nutrition security are key priorities of EU development cooperation. Commissioner Mimica considers that no substantial reduction in poverty and malnutrition in the world without addressing the rural areas where small scale farmers form the core of the economy, demonstrating the example of Sokhna Faye, a successful onion farmer in Senegal. Sokhna Faye began cultivating onions 20 years ago to help feed her family. Since then, she has joined the local cooperative and received considerable help from the EU, including access to warehouse facilities, micro-credit and tools. She uses the income she earns to buy nutritious food for her family and to help cope with recurrent drought.

During his visit to the Expo, Commissioner Mimica participated in several events concerned with investments in agriculture, presenting a new initiative on this field, the Agriculture Financing Initiative – AgriFI – that responds to the current lack of financing mechanisms adapted to farmers, particularly to smallholders.