WIEF WEBINAR: MALAYSIA ON TARGET TO ACHIEVE ZERO HUNGER BY 2030

KUALA LUMPUR, Aug 12 -- Malaysia is on target to achieve zero hunger and improve its people’s incomes by 2030, says an agriculture and investment adviser.

A recent study by Canada’s International Institute for Sustainable Development, agriculture, trade and investment director, Carin Smaller revealed that an extra spending of US$33 billion (US$1=RM4.23) per year is needed until 2030 to end hunger, double incomes of the poorest farmers around the world, and to protect the climate.

“From our study, Malaysia is on track (to achieve zero hunger, improving incomes by 2030), and none of the extra US$33 billion should be spent in Malaysia,” she said at the World Islamic Economic Forum (WIEF) webinar titled “Face to Face on Reimaging Future Food Systems” today.

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Touching on the additional US$33 billion spending per year, Smaller said if this amount of money were mobilised annually, it could lift 500 million people worldwide out of hunger and double the incomes of 545 million farmers.

However, she pointed out that two-thirds of the money are needed to be disbursed to Africa, and two-thirds of the amount are needed to be spent on farms.

“Africa is the continent where the greatest need is, and this is strongly confirmed with the rising level of hunger seen as a result of COVID-19, with a 50 per cent rise in hunger in Western Africa and a 33 per cent rise in hunger in Southern Africa,” she said.

Out of the US$33 billion per year, Smaller said 58 per cent, or US$19 billion, should come from domestic resources, which means from governments in the low-middle income countries. 

The remaining 42 per cent, or US$14 billion, should come from external resources such as donors through traditional aids or mechanisms or from the rising pool of philanthropic activities, she said.

“What does this additional US$14 billion per year represent?

“It basically asks donors or philanthropists to double the current spending on food security or hunger programmes,” Smaller added.

However, she cautioned that the additional US$33 billion per year does not mean that the current investments are not working, but it is just insufficient, and it could be spent better.

“Importantly, the additional US$33 billion per year of public spending is expected to generate an extra US$52 billion per year in private sector spending in agriculture and food sectors.

“So, this is an important return of private sector investment that triggered from this additional public spending,” she said.

-- BERNAMA