US$265 billion needed annually to end hunger and poverty by 2030

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Rural development and youth employment are strongly connected to migration. Photo: FAO/Riccardo Gangale

Urgent action is needed to mobilize the estimated US$265 billion needed annually  to stamp out hunger and poverty in our lifetime, according to the head of the UN agency that is dedicated to eradicating rural poverty.

Kanayo F. Nwanze, President of the International Fund for Agricultural Development (IFAD), addressed participants at a three-day conference in Rome which opened on Wednesday evening.

Ending extreme poverty and eradicating hunger are two of the 17 Sustainable Development Goals which the world hopes to achieve by 2030.

Dianne Penn reports.

The conference is focussed on finding innovative ways to finance rural development.

IFAD says it comes at a critical time where global priorities are being reshaped due to political change and humanitarian crises such as war, migration and natural disasters.

As a result, money could potentially be diverted away from development.

Dr Nwanze pointed out that the need is urgent as nearly 800 million people worldwide still go hungry every day, while an almost equal number live in extreme poverty.

The majority of these people live in rural areas of developing countries.

Therefore, he said, investments are needed to transform rural areas into places that offer opportunities for all people to have decent jobs and lead dignified lives free of poverty and hunger.

Dianne Penn, United Nations.

Duration: 55″

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