WASHINGTON, DC, United States (CMC) — Guyana’s President Dr Irfaan Ali has underscored the urgency of the Caribbean region becoming food secure while highlighting the need for measures to be implemented to achieve the set targets.

Delivering a virtual address to the Caribbean Association of the World Bank Group and International Monetary Fund Staff (CAWI), Caribbean Leader’s Open Dialogue, Ali spoke about the catastrophic implications of non-action or limited action when it comes to food security within the Caribbean.

Ali, who has lead responsibility for agriculture in the Caribbean Community’s Quasi Cabinet, called for an increase in production and productivity and reminded that climate-resilient agriculture is necessary for sustainability.

“In all of this, we have to find financing for infrastructure … in an environment in which we are already saddled with the heavy debt burden, the cost of climate adaptation, and the high cost of financing globally.

“If we are to achieve the 25 by 2025 target in a very conservative way, the investment from the public and private sector needed will be about US$7.5 billion,” Ali said, urging partners like the World Bank and International Monetary Fund to bolster their support for the region.

The ’25 by 2025′ initiative entails lowering the region’s larger food import bill by 25 per cent by 2025.

But Ali warned that the region would not achieve its targets if a seismic shift was not undertaken by the governments and issues such as transportation and financing were not addressed.

Ali said that there are sufficient studies on the region to inform decisions made by financial institutions such as the World Bank so as to take action and work alongside Caribbean nations to eliminate food insecurity.

“We took a full analysis of every single country, looked at the competitive environment in every country, and we sought to identify low-hanging fruits, medium-term strategies, and long-term strategies,” he said.

He said the reason for this is not only to eliminate hunger but to also refocus food production and agriculture as serious economic activities while dealing with different obstacles and constraints that impact the sector.

He added, “If you look at some of the recent headlines on food security in the region, it’s a really telling story. It is important for us to know that if we don’t take action now and we don’t make the necessary adjustments in our budgetary allocation for agriculture and food production and prioritise agriculture, we are going to face a catastrophe in the region.”