Global Agriculture and Food Security Program

DEPARTMENT OF TREASURY | TITLE V

FY 2023 Recommendation No Less Than:

$125 M

FY 2022 Enacted: $5 M

FY 2023 President's Request: $0

FY 2023 Recommendation No Less Than:

$125 M

FY 2022 Enacted: $5 M

FY 2023 President's Request: $0

Description

The Global Agriculture and Food Security Program (GAFSP) is a multilateral mechanism launched by the G20 in response to the 2007-2008 food price crises with the goal of increasing investment in agriculture and food security to improve the livelihoods of small scale farmers. GAFSP funds projects led by governments or farmers’ organizations in close collaboration with international organizations, which provide financial and technical support and oversight of projects and programs.

Use of Funds

GAFSP provides competitive grants and blended finance. It works to provide predictable, transparent, long-term investments that increase agricultural production, link farmers to markets, reduce risk and vulnerability, and improve rural livelihoods and nutrition.

Justification

In 2020, GAFSP:
- Reached 16 million smallholder farmers, their families, and communities.
- Provided 6.3 million women agricultural support.
- Increased access to more nutritious and diverse diets for 1.6 million people.
Based on a sample of about 70 projects, a Food and Agriculture Organization team found that the GAFSP’s portfolio is an overall net reducer of greenhouse gas emissions, removing 15.4 million tons of carbon dioxide equivalent (tCO₂e).
In its first 10 years, GAFSP provided financing to 13 million farmers and families, including 5 million women and girls.
In response to the pandemic, GAFSP fast-tracked nearly $60 million to address the impacts of COVID-19.
GAFSP employs a flexible funding model allowing countries to customize investments to meet multiple needs with impacts beyond the agriculture sector.