AGCO, Your Agriculture Company, a worldwide manufacturer and
distributor of agricultural equipment and solutions, has signed a Letter of
Intent (LOI) with the German Federal Ministry of Economic Cooperation and
Development (BMZ) to implement a joint agricultural project in Africa. The
potential project is subject to further talks but the aim is to make measurable
contributions to increasing agricultural productivity and skills development,
thereby boosting income and employment in African rural households.
The LOI was signed in Berlin on 18 January by Martin Richenhagen, President,
Chairman and CEO of AGCO, and Dr. Gerd Müller, Federal Minister for Economic
Cooperation and Development.
“We expect that the collaboration between the BMZ, an important institution for
international cooperation on agricultural projects, and AGCO, one of the
world’s largest producers of farm machinery, to trigger significant synergies,”
said Martin Richenhagen. “We both seek to foster mechanization to facilitate sustainable
agriculture.”
The mechanization activities of both the BMZ and AGCO are designed to
contribute to the United Nations’ 2030 Agenda and Sustainable Development Goals
(SDG) to eradicate extreme poverty and end hunger by 2030. The Goals also aim
to double the agricultural productivity of small-scale food producers, ensure
sustainable food production systems and implement resilient agricultural
practices.
“With the 2030 Agenda and SDG as a globally binding framework for action,
cooperation between the German Development Ministry and the private sector is
becoming increasingly important,” commented Dr. Müller. “The close involvement
of companies in joint measures enables private sector know-how and resources to
be used for development policy goals. A world without hunger is possible if we
join forces.”
AGCO is a member of the Grow Africa initiative of the World Economic Forum
(WEF) and the New Alliance for Food Security and Nutrition of the G8. The
company contributes to the New Vision for Agriculture goals of the WEF to
provide food security for all people in an environmentally-sustainable way,
while generating economic growth and opportunity. AGCO’s newly-launched Farm in
a Box initiative, which provides a package of essential farm equipment together
with the crucial support mechanisms, is the company’s latest innovative
solution to promoting farm mechanization in Africa.
The BMZ provides companies with financial and technical support for joint
projects. The partnership enables companies to make effective and efficient
contribution to the implementation of development objectives within the
framework of their business activities. With its special initiative ‘One World
– No Hunger’, the BMZ is a strong supporter of agriculture and rural
development through its Green Innovation Centers in African and Asian
countries.
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