Agriculture is a core sector in the economies of most of the Organization of Islamic Cooperation (OIC) member countries. It employs well over 233 million people, accounts for a significant proportion of the GDP, and is the main source of food and nutritional security.
The sector is however sub-optimal in many member countries relative to other regions in the world. Putting technology and digitalization to the mix, interventions are needed to enhance production and productivity rates, and provide access to markets.
Transformation and technology in the Agriculture sector will not only improve production but will facilitate trade within and across member countries. From seeds and fertilizers to equipment for mechanization, the full value chain is at the core of the focus. Trade will also open and expand markets for the produce (output) and drive incentives for farmers to increase investments in production.
Digital technologies offer great potential to improve efficiency and performance, provide new economic opportunities and promote equity and sustainability in both food and non-food agricultural supply chains. There is growing evidence that digital solutions such as blockchain, Internet of Things (IOT), Artificial Intelligence and robotics can create conditions for inclusiveness, enable connectivity between producers and buyers of farm production, and empower women and youth, smallholder businesses and actors, and link less-developed markets with more developed ones.
Harnessing the potential of the digital solutions requires establishing a strong partnership between the public and private sector, Multilateral Development Banks (MDBs), commercial banks, AgriTech start-ups, non-governmental organizations, the civil society, academia, resources centers among others.
To this end, International Islamic Trade Finance Corporation (ITFC) and Islamic Development Bank (IsDB) through the Agriculture Infrastructure Division (AID) will lead an initiative to support the OIC and IsDB Groups MCs leverage the power of the digital revolution to leapfrog the agricultural sector’s growth, with a specific focus on promoting trade and investments in important food and non-food crops.
The Islamic Development Bank is a multilateral development bank (MDB), working to improve the lives of those we serve by promoting social and economic development in Member countries and Muslim communities worldwide, delivering impact at scale.
We provide the infrastructure to enable people to lead better lives and achieve their full potential.
We believe all people have the right to live in dignity and prosperity, and that nurturing economic growth is the best route out of poverty.
We equip people to drive their own economic and social progress at scale, putting the infrastructure in place to enable them to fulfil their potential.
We build collaborative partnerships between communities and nations, across the public and private sectors.
We foster innovative and sustainable solutions to the world’s greatest development challenges, as we work towards the UN Sustainable Development Goals.
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the purpose of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world.
Since inception in 2008, ITFC has provided more than US$51 billion of trade financing to OIC Member Countries, making the Corporation the leading provider of trade solutions for OIC Member Countries’ needs. With a mission of being a catalyst for trade development among OIC Member Countries and beyond, the Corporation helps entities in Member Countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.
Identify most promising AgriTech solutions to enhance the efficiencies of agricultural value chains (national, regional and global)
Raise environmental awareness
Establish strategic partnerships, especially with the private sector
Develop strong private-sector national, regional and global value chains
Create jobs for the youth and women
Enhance the uptake of STI by farmers on agribusiness
Explore opportunities, challenges and digital solutions on agricultural good practices and financing services
AgriTech Role in Food Security & Environmental Sustainability
As the world’s population is heading towards 9.5 B by 2050, there is a desperate need to boost the yields. Moreover, resources are being depleted due to inefficient farming practices, hence the need to rationalize the utilization of resources in a sustainable manner.
Harnessing digital tools like AI, Blockchain, IoT, Drones, Robotics ..etc & techniques like Precision Farming have become a necessity in order to address the food security issue in a sustainable manner.
The webinar will host experts in agriculture development to share their experience and insights.
Digitalizing the supply chain will significantly reduce crop wastage estimated at 45% of the global production. Moreover, it adds transparency and visibility which in turn establish trust among financiers, producers, consumers and other stakeholders. The concept of goods provenance is on the rise as consumers awareness is spreading.
The webinar aims to explore how AgriTech solutions can enhance the supply chain.