Agricultural Risk Management Platform to be launched at IFAD

Rome, 2 December 2013 - The Platform for Agricultural Risk Management (PARM) will be launched today at the headquarters of the International Fund for Agricultural Development (IFAD). This four year initiative is supported by the Agence Française de Développement (AFD), the European Commission (EC), the Government of Italy, the New Partnership for Africa's Development (NEPAD) and IFAD. The PARM Secretariat, with a core funding of Euro 5.95 million, will be hosted at IFAD and will initially focus on 8 countries in Africa. PARM is an outcome of the G8 and G20 discussions on food security and agricultural growth.

Smallholder farmers in developing countries face a variety of risks on a daily basis, from unpredictable weather to erratic market prices. Most do not have access to risk management instruments, such as insurance, that are available to farmers in developed countries.

In recent years, high risk exposure to climatic events in agriculture has been on the political agenda of both industrialized and developing nations. PARM aims to identify, assess, and quantify agricultural risks in partner countries and develop strategies to tackle those risks which can then be incorporated into policies and investment plans of partner countries. It will also work to increase the knowledge of all stakeholders on agricultural risk management and foster a better exchange of experience between all practitioners. PARM will also endeavour to improve the collaboration between public and private sectors and academia, to create strong public-private partnerships.

Notes to editors:

  • Through the Comprehensive Africa Agriculture Development Programme (CAADP), African countries are spearheading higher investment in agriculture and food security.NEPAD is a strategic partner of PARM which will focus on those African countries where the commitment of policymakers is strongest.
  • IFAD focuses on agricultural development, food and nutritional security and rural poverty reduction. Agricultural risk management is a central element of many IFAD-supported programmes and projects, and has synergies with other IFAD initiatives, such as the Adaptation for Smallholder Agriculture Programme and the IFAD-WFP Weather Risk Management Facility.

Press release no: IFAD/59/2013

The International Fund for Agricultural Development (IFAD) works with poor rural people to enable them to grow and sell more food, increase their incomes and determine the direction of their own lives. Since 1978, IFAD has invested over US$15 billion in grants and low-interest loans to developing countries through projects empowering more than 410 million people to break out of poverty, thereby helping to create vibrant rural communities. IFAD is an international financial institution and a specialized UN agency based in Rome – the United Nations' food and agriculture hub. It is a unique partnership of 172 members from the Organization of the Petroleum Exporting Countries (OPEC), other developing countries and the Organisation for Economic Co-operation and Development (OECD).