Business Session 3
Business Session 3 (Code BS 3): 12 November 2019 (15:45 – 17:30 hrs.)
Session Theme: Credit flow to agriculture and its value chain to achieve revitalized rural landscape and deliver inclusive growth
Session Organizer: Asia-Pacific Rural and Agriculture Credit Association (APRACA), Bangkok, Thailand
Background:
In the past few years, agriculture has risen once more to the top of national and international policy agendas. Agriculture lies at the center of inclusive growth leading to sustainable development. It plays a crucial role in addressing the food and nutritional security needs of a growing global population. It has been realized that comprehensive approach of integrating all actors in value chains is needed to reap the benefits. Smallholders and resource-poor rural communities need to be the central actors in an efficient value chain development. Arguably, this could be achieved through revitalized rural sector and removing the imbalances of flow of investments. It needs to take into account national priorities and mutually beneficial linkages among rural based farms enterprises of all scales adapted to site-specific agroecosystems and climate, building on local knowledge and experience while availing the technological innovations and know-how.
Problem statement:
Globalization has moved the world from fragmented economies to a unit trading bloc that offers enormous opportunities in agricultural development but also heightens competition, with increasing demand on efficient market players. However, weaker market players will be ‘pushed’ out of mainstream value chains which is posing a threat to the smallholders across the globe and Asia is no exception to that. Indeed, in most Asian countries, agricultural sector performance has not matched with the encouraging economic growth records over the past decade in the region. One of the reasons is the imbalances in development within the continent which is regional in nature and within the countries due to inequal distribution of financial resources and technological innovations. Overall, the continent is yet to deliver the benefits of inclusive and sustainable growth to the smallholders to enhance their resilience. To this end, there must be mobilization of commitment of the relevant stakeholders, at the international and national levels, to revitalize the rural landscape by bringing in more investments and competitiveness in the sector.
Expected Output:
The policy makers, practitioners and experts of this business session (BS3) of 6 th World Congress who are representing the national government, multilateral development agencies, development financial institutions and private sector will deliberate on this important agenda which has taken the center stage of development to achieve SDG. This session is also expected to provide business cases on innovative financial products and services which are potential to play extremely important role in revitalizing rural landscape through agricultural development. The speakers may also argue on the traditional pathways which were unable to provide the benefits of technological and market innovations to the rural areas with special reference to smallholders. The session is also expected to provide lights on redesigning the financial services and support programme to agricultural sector by the national governments with active participation of financial institutions to transform agriculture into agribusiness. The session detail appended below:
| 15:45 to 17:30 | Business Session 3 (Code BS 3) Session Theme: Credit flow to agriculture and its value chain to achieve revitalized rural landscape and deliver inclusive growth (Session hosted and organized by APRACA, Bangkok, Thailand) |
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