Yara participated in establishing the New Alliance for Food Security and Nutrition, a public-private partnership commitment launched at the G8 summit in 2012. The Alliance aims to increase investments to develop African agriculture.
African farming and food production came to international attention during the global food price crisis in 2008, with political calls for increased private investments as well as donor support to underpin an African green revolution. At its 2009 summit at L’Aquila, the G8 group of countries responded by pledging to mobilize financial assistance to strengthen food security and help countries end hunger. With the financial crisis keeping its hold, these commitments were not entirely met, and another initiative was launched in 2012, to follow up on the L’Aquila statement.
The New Alliance for Food Security and Nutrition (NAFSN) is a commitment by G8 nations, African countries and private sector partners, to lift 50 million people out of poverty over the coming ten years. The alliance was launched at the G8 summit at Camp David in 2012, with a goal to support inclusive and sustained agricultural growth.
The key interventions are to mobilize domestic and foreign private investments in African agriculture, bring agricultural innovations to scale, and reduce the risk borne by vulnerable economies and communities.
The initial launch in Ethiopia, Ghana and Tanzania is scheduled to expand rapidly to other countries such as Burkina Faso, Cote d’Ivoire and Mozambique, and reach other nations participating in the Grow Africa Partnership.
At the launch, over 45 private companies had committed to specific agricultural investments totalling over USD 3 billion. The NAFSN responds to African commitments to promote food security by embracing the pledges from L’Aquila – supporting the accelerated implementation of the Comprehensive Africa Agriculture Development Programme (CAADP). The G8 has particularly supported the Grow Africa partnership and the African Union (AU) and its New Partnership for Africa’s Development (NEPAD).
Yara was the primary private sector representative at the G8 event in Washington DC in 2012, where President Barack Obama delivered an opening keynote speech and launched the New Alliance. The symposium was partly inspired by the Grow Africa partnership, which Yara played a key role in establishing, and co-chairs. The African Growth Corridors is a backdrop and inspiration. In Washington, several global businesses signed Letters of Intent committing to invest in Africa. Yara has committed to develop our business and invest in Ethiopia, Ghana, Burkina Faso and Tanzania.