Invest in agriculture to end poverty: World Bank report
World Development Report calls for greater investment in agriculture in developing countries. The report warns that the sector must be placed at the center of the development agenda if the goals of halving extreme poverty and hunger by 2015 are to be realized.
While 75% of the world’s poor live in rural areas in developing countries, a mere 4% of official development assistance goes to agriculture.
In Sub-Saharan Africa, a region heavily reliant on agriculture for overall growth, public spending for farming is also only 4 percent of total government spending and the sector is still taxed at relatively high levels.
For the poorest people, GDP growth originating in agriculture is about four times more effective in raising incomes of extremely poor people than GDP growth originating outside the sector.
Download World Development Report 2008
