Your Excellencies,

Distinguished Guests,

Ladies and Gentlemen,

I am very pleased and honoured to be here today at the launch of the ABC Fund.

It is an important moment.

Because: We cannot talk about ending global hunger by 2030 without talking about agriculture and rural development.

And,    We cannot talk about agriculture and rural development without talking about the challenges faced by smallholder farmers.

These are complex and real challenges. Smallholders and rural agriculture businesses are not getting the investment they need from financial institutions and the private sector.

They are not getting the investment they need to sustain livelihoods and productivity. And they are not getting the investment they need to give their youth a reason to stay, not to leave.

The ABC Fund helps to address this investment gap.

It helps “de-risk” small investments. Making those investments less expensive, and creating a better flow of capital to smallholders.

It also responds to our wider commitment under the new Africa-Europe Alliance to unlock private investment and explore the huge opportunities for both African and European economies.

In practical terms, the Fund could generate more than 200 million euros in investments and benefit up to 700,000 households in rural areas.

Today’s launch is the result of a collective effort and I would like to recognise all those who have helped make this happen:

Funding from the Government of Luxembourg and from the Africa Green Revolution Alliance will, along with our contribution, help launch the Fund’s activities.

The ACP Secretariat’s leadership in promoting private sector development in ACP countries has also been crucial. This commitment continues to shape our strong cooperation on agricultural development. And I am delighted to share the platform today with ACP Secretary-General Patrick Gomes.

And last but certainly not least, our hosts IFAD. Your experience and existing development activities have been central to getting the Fund up and running. And I have no doubt that the EU’s long-standing partnership with IFAD – in particular our work together on farmers’ organisations – will be all the more important in the future.

Our new joint programme to strengthen farmers’ organisations and cooperatives - to the tune of around 43 million euros - will work hand in hand with the objectives of the ABC Fund.

Together we can strengthen farmers’ organisations to help them access capital for their members’ benefit. This also ensures we continue to feed the Fund’s investment pipeline.

I said at the start of my intervention that we cannot talk about ending global hunger by 2030 without talking about agriculture and rural development.

In fact, agriculture and rural development are fundamental to achieving not just one SDG, but all SDGs. Without food, there can be no health, no equality, no stability or peace.

So, what we are doing today with the launch of the ABC Fund is extremely important. We are investing not only in agri-smallholders. We are also investing in rural youth, rural communities and a better collective future.