An Overview of IsDB Group Rapid Response to the Food Crisis
With the food crisis threatening to reverse years of progress on the sustainable development goals, the IsDB Group responded, in July 2022, with the Immediate Launch of a Food Security Response Package for the amount of US$ 10.54 Billion, to be approved and processed in the coming 3.5 years.
The program was launched to support member countries in addressing the ongoing food crisis and, most importantly, scale up the Group's continued efforts to contribute to strengthening its member countries resilience to food security shocks in the future.
Two tracks were identified under the program:
Immediate to Short term track:
Focused on providing assistance and allocating technical and financial resources to respond to the immediate needs of the most affected member countries with a total financing package of US$ 3.2 billion. Mainly Addressing issues of access, affordability, and local availability with respect to foods, seeds, and fertilizers. With two flagship initiatives under this track:
1. Emergency Food and Input Supply Initiative
2. Social Protection and Livelihood Support Initiative
Medium to long term track:
Addressing the root causes of the crisis. Geared towards addressing the structural determinants and drivers of food insecurity, low productivity, and rural poverty and strengthening the resilience of agricultural and food systems through the allocation of a financing amount of US$ 7.3 billion with six flagship interventions falling under this track:
1. Build Agricultural Resilience to Climate Change Initiative
2. Food and Input Value-Chains Initiative
3. Smallholders Productivity and Market Access Program
4. Rural Livelihood Support Initiative
5. Livestock and Fisheries Development Program
6. Build Resilient Food Supply Systems Program
Since the launch of the program and as of 31st of December 2022, the IsDB group has approved projects worth US$ 1412.01 million.