Only 1.7% of the global climate finance reaches poor farmers

Published Nov 3, 2021

Tridge summary

A recent event at the COP-26 conference, organized by the International Fund for Agricultural Development (IFAD), revealed that only 1.7% of global climate finance has been reached by smallholder farmers, who contribute to raising a third of the world's food. The event included a virtual visit to Bangladesh, where farmers face challenges such as erratic rainfall, floods, and increased salinity due to climate change. Small-scale farmers in Bangladesh provide 70% of the country's food produce, and IFAD emphasized the urgent need for more financial support to help these farmers adapt to climate change. The organization is seeking to raise $500 million to aid 10 million farmers through its adaptation program.

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Original content

Only 1.7 per cent of the global climate finance has reached smallholder farmers, who grow a third of global food produce, revealed a live event hosted by the International Fund for Agricultural Development on the sidelines of the COP-26 conference on Wednesday.The live event also featured a virtual field trip to Bangladesh highlighting challenges faced by farmers due to changing climate affecting their traditional livelihood activities with erratic rainfall, flood and increased salinity.Agriculture economists in Bangladesh, however, credit small-scale farmers with growing 70 per cent of Bangladesh’s food produce while the IFAD said that Bangladesh needed much more financial support for helping its small-scale famers adapt to climate change.‘Climate change is a risk multiplier, especially for poor farmers living in climate vulnerable countries like Bangladesh,’ said the IFAD’s associate vice-president Donal Brown.‘Farmers bear the brunt of climate change. The people and the ...

Source: Newagebd