African Development Bank Joins G20 Leaders at Rio Summit to Tackle Global Hunger
African Development Bank (AfDB) President Akinwumi Adesina is in Rio de Janeiro, reaffirming his commitment to combating hunger and malnutrition at the G20 Leaders’ Summit.
With the theme “Building a Just World and a Sustainable Planet,” the summit, held from November 18-19, 2024, focuses on the G20’s Global Alliance against Hunger and Poverty, an initiative led by Brazil’s G20 presidency. The alliance aims to unite developed and developing nations to eradicate hunger and tackle inequality.
A central focus of the summit is Africa, where over 280 million people suffer from hunger, accounting for 38% of the world’s hungry population. As highlighted by Adesina, hunger remains “the worst form of deprivation,” with severe effects on physical and mental health.
According to the 2024 State of Food Security and Nutrition in the World, 20.4% of Africa’s population is affected by hunger, underscoring the urgency for global action.
The G20’s Global Alliance initiative will launch coordinated actions aimed at increasing the production of healthy food and fostering sustainable agriculture. In support of this, the African Development Bank, along with the World Bank and other development institutions, is backing efforts to use IMF Special Drawing Rights (SDRs) through a hybrid financing mechanism to scale up resources for hunger alleviation and food security.
AfDB’s Feed Africa strategy, a key component of its High Five priorities, continues to strengthen Africa’s food security and resilience. In collaboration with the Inter-American Development Bank, the African Development Bank has also pushed for increased financing to ensure the success of the Global Alliance initiative.
As Brazil prepares to hand over the G20 chair to South Africa at the end of the summit, the momentum gained under previous presidencies is expected to further enhance the effectiveness of multilateral development banks, making them more impactful in addressing global hunger and poverty.
The G20, comprising 19 countries and two regional organizations, the European Union and African Union, represents around 85% of global GDP, 75% of global trade, and two-thirds of the world’s population.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
