News Context: Global Environment Facility (GEF)-funded Financing Agrochemical Reduction and Management (FARM) Programme launched.
Key highlights of FARM:
- About: One of the first such concerted efforts on a global scale, is a $379 million initiative that will realign financial incentives to:
- Prevent the use of harmful inputs in food production. ✓ Encourage the adoption of low and non chemical alternatives.
- Tenure: 5 Years
- It will support:
- Government regulation to phase out Persistent Organic Pollutants (POPs) containing agrochemicals and agri-plastics and adopt better management standards.
- Strengthening banking, insurance and investment criteria to improve the availability of effective pest control, production alternatives and trade in sustainable produce.
- Members: India, Ecuador, Kenya, Lao PDR, the Philippines, Uruguay and Vietnam.
- Implementing Agencies: Led by UNEP and implemented by the ADB, UNDP, and UNIDO with execution carried out in-country by FAO.