EIB-FAO Partnership to Boost Agriculture in Iran, FAO Envoy Says
TEHRAN (Tasnim) – Given a renewed global interest in agriculture, the European Investment Bank (EIB) is expanding its collaboration with the Food and Agriculture Organization of the United Nations (FAO) to broaden investment in agriculture in non-European states including Iran.
With recent developments and the envisaged expansion of economic engagement of European countries with Iran, increased investment in agricultural and rural development and food security in the country is becoming a salient issue which needs to be addressed, FAO Representative to the Islamic Republic of Iran, Serge Nakouzi, said.
"The need for more and better agricultural investment in Iran is becoming increasingly crucial in light of the trends witnessed over the past decades," he stated.
"With food demand on the rise due to a growing population, the country faces the challenges of higher demand for quality and safer food products whilst being confronted with resource constraints and environmental threats as well as adverse impacts of climate change," he went on to say.
Nakouzi further noted that these trends evidence not only a greater demand for investment support for the agrifood sectors, but also an unequivocal need for an Investment Support Strategy that would assist in managing the complex policy processes in these sectors.
The FAO envoy added, "As new investment actors enter the scene and we embark on the journey to achieve the Sustainable Development Goals that will be endorsed later this year as part of the post 2015 Development Agenda, it is important that we capitalize on the opportunity provided by the FAO/EIB agreement to strengthen investments in agrifood systems by engaging both the public and private sectors.
"Such investments will contribute towards the development of a strong, sustainable and resilient agricultural sector and reinvigorating further the role of this sector in the national economy," he added.
FAO and EIB have signed a five-year Memorandum of Understanding (MoU) that seeks to foster investment operations in the field of agriculture, private sector development and value chains that promote both EIB's priorities and FAO's strategic objectives.
The FAO/EIB agreement, announced during the Third International Conference on Financing for Development, further marks the engagement of the EIB in the agribusiness sector and, for FAO, a partnership with the world's largest multilateral financial institution.
