Agriculture finance represents an important element of eradicating extreme poverty and boosting shared prosperity. According to the International Fund for Agricultural Development, smallholders manage over 80% of the world's estimated 500 million small farms and provide over 80% of the food consumed in a significant part of the developing world, making a major contribution to poverty reduction and food security. Most smallholder farms are in Asia and sub-Saharan Africa, and in both regions over 80% of farmland is managed by smallholders. Even though these farmers are generally characterized by limited resources--particularly in terms of land--and dependence on household members for farm labor, they represent a critical part of food systems in developing countries. In light of the size and importance of the smallholder farming sector, the development community has a growing focus on providing these farmers with the funding they need to thrive.
Apr-27-2020, 04:58:46 GMT