Denmark will create an investment fund aimed to boost the agriculture sector in developing countries, particularly in Africa, Danish Trade and Development Minister Mogens Jensen announced Tuesday.
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Denmark plans to invest in African agriculture: minister news
“Eradicating global hunger is no easy task, but it can be done,” Jensen said. “Danish farmers and food producers possess wide-reaching knowledge and know-how when it comes to establishing sustainable food production, and this can be used to help fight hunger on the African continent,” he added.
The fund will initially consist of 40 million Danish kroner (7.4 million U.S. dollars) in starting capital and its operations will mainly be focused on African farmers.
The Danish Trade and Development Ministry hopes to reach its target to invest 900 million kroner (167.3 million U.S. dollars) in African crop production by gaining the support of Danish pension funds and other investors.
Soeren Gade, the head of the Danish Agriculture and Food Council, an industry lobby group, was confident food producers would back the initiative.
Here in Denmark, we have been able to continuously increase our production output without compromising nature, the climate or the environment,” said Gade. “It is this kind of production that is needed if we are to be able to feed 10 billion people without destroying the planet.