Microsoft billionaire Bill Gates has joined representatives of the governments of the United States, Canada, Spain, and South Korea to launch a global trust fund to help the world's poorest farmers grow more and earn more so they can lift themselves - and their countries - out of hunger and poverty.
Initial contributions to the fund total nearly $US900 million, including a $US30m commitment from the Bill and Melinda Gates Foundation.
Proposed by the G20 last year after the economic crisis and rising food prices pushed the number of hungry people to 1 billion, the Global Agriculture and Food Security Program is a concrete step to translate $US22 billion in food security pledges into action.
In a recent Gallup survey in 18 countries in sub-Saharan Africa, residents listed agriculture and jobs as the most important issues their governments should address in the next year.
Small farmers need a comprehensive, long-term approach that is sustainable for the economy and the environment.
That means improved seeds, tools and training, access to markets where they can sell their surplus, and better policies to support their efforts.
Hosted by the World Bank, the trust fund will focus on countries with strong national plans that are already using their own resources on these kinds of effective interventions.
African countries are already taking the lead.
In 2004, African heads of state pledged 10 per cent of their national budgets to achieve 6pc annual growth in agriculture.
In 2008, 20 African countries achieved the 6pc target.
In Rwanda, investment in agriculture rose by 30pc from 2007 to 2009.
In 2008, the country reported that its agricultural production increased 15pc.
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