Empowering India's Small-Scale Farmers: A $75 Billion Climate Investment Challenge
The President of IFAD, Alvaro Lario, reports on the pressing need for a $75 billion investment to assist small-scale farmers in India in adapting to climate change. This effort focuses on integrating private capital, sustainable practices, and rural finance for improved agricultural productivity and resilience.
- Country:
- India
Alvaro Lario, President of the International Fund for Agricultural Development (IFAD), has highlighted the urgent need for approximately $75 billion to help small-scale farmers in India adapt to the challenges posed by climate change. During an interview with PTI, Lario emphasized the significance of bringing finance to rural areas, not just in India, but globally.
Lario pointed out that climate change is having a profound impact on the rural sectors, with small and marginal farmers requiring significant investment to withstand climate shocks. Despite accounting for 86.2% of farmers, they own just 47.3% of the farming land in India, adding to the challenge.
IFAD is actively working on projects in various Indian states like Maharashtra and Meghalaya to promote climate-resilient practices and sustainable value chains. The agency aims to attract private capital and foster partnerships between public and private sectors to enhance farmer incomes and resilience.
(With inputs from agencies.)
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