Business
Adesina, World Laureates Seek US Intervention Against Global Hunger

The President of African Development Bank (AfDB) and 2017 winner of the World Food Prize, Dr. Akinwumi Adesina, alongside other World Food Prize laureates, have called for United States’ intervention to end global hunger by 2030.
In an open letter to the United States President, Joe Biden, a group of 24 scientists, economists, researchers and past winners of the World Food Prize, including Adesina, described America’s role in tackling the scourge of global hunger as ‘foundational.’
They, therefore, urged President Biden to re-establish America’s global leadership to end hunger, play a leadership role in the upcoming UN Food Systems Summit and other global initiatives.
The World Food Prize laureates urged Biden to refresh US evidenced-based policy and investments to achieve the goal of ending hunger.
They added that the US President should expand the highly successful USAID Feed the Future Initiative and Innovation Laboratories, to reach more countries.
“As the world staggers out of COVID-19 and into the light of 2021, we seek to illuminate our collective path towards 2030.
“We urge the Biden-Harris Administration to focus on the promise to Build Back Better in transforming our food systems.
“The United States leadership in ending global hunger is imperative and must be backed by bold actions and your personal commitment for the U.S. to engage on major global initiatives.
“The opportunity for renewed U.S. leadership to transform food systems has never been greater. The appetite of partners around the world to work with the U.S in both the public and private sectors is strong.
“We urge the Biden-Harris Administration to seize this moment and invest in development and cooperation to achieve zero hunger by 2030.
“ America’s leadership on getting food systems right will inspire and embolden others to join forces to end hunger, counter climate change, generate jobs, and promote responsible stewardship of the environment.
“Supporting economic growth globally leads to increased trade for American entities, increases stability in conflict areas, builds bonds of solidarity and trust that are the bedrock of diplomacy, and alleviates the suffering of the most vulnerable.
“These outcomes reflect long-held, treasured American values and offer opportunities to realize global aspirations.” the letter reads.
The World Food Prize laureates recalled that in 2009 post-financial crisis and as a result of the L’Aquila Declaration, the U.S. announced the $3.5 billion Feed the Future Initiative with bipartisan support.
They noted that the initiative helped to reverse decades-long declines in funding for food and agriculture, around the world, which also prompted collective global investments of $22 billion and triggered progress for hundreds of millions.
They cited a recent Ceres2030 report that says the world could end global hunger by 2030 with an extra annual investment of $33 billion, a small fraction of the world’s COVID mitigation investment.
The World Food Prize was created by Nobel Peace Prize Laureate, Norman Borlaug in 1986 to recognise scientists and others who had improved the quality and availability of food.
The sum of $250,000 prize is awarded annually by the Des Moines, Iowa-based World Food Prize Foundation, which receives support from more than 80 companies, foundations and individuals.
“For millions of poor people around the world, the risk of dying from hunger is greater than dying from COVID-19.
“Without food, medicines don’t work. Food and nutrition are the vaccines against hunger. Let’s vaccinate the world against hunger,” Adesina said.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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