Norway strongly welcomes the leadership of G20, IFAD and G7 to fight hunger and poverty.
We need better and more efficient financial support to reach SDG 1 and 2. Norway would like to emphasize the following five points:
- First, it is fundamental that the aid and investments have a main focus on the poorest rural areas in low- and lower-middle-income countries, where around three quarters of the people in extreme poverty live.
- Second, the neglect of smallholder farmers and rural populations must change. The share of climate finance reaching small-scale agrifood must increase.
- Third, developing countries need finance, and much higher volumes! The only institutions that can really deliver the volume required are the multilateral finance institutions, given their ability to leverage capital. IFAD is one of the organizations that should revise its financial strategy to deliver more.
- Fourth, national ownership is key for strengthening domestic resource mobilization. Improved governance, fair and progressive taxation, and social services for all, are basic pillars in the necessary efforts to reach our goals.
- Fifth, private sector investments must be incentivized through an enabling framework stimulating local food sector value chains and markets.
Thank you!