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The Global Agriculture and Food Security Program was born out of a crisis. Launched in 2010 after the 2008 global food crisis — which saw rice prices nearly triple, wheat prices more than double, and pushed 105 million people into poverty — the fund was designed to channel donor resources into agriculture and food security strategies in the world’s lowest-income countries.

Housed at the World Bank as a Financial intermediary fund, GAFSP has since mobilized $2 billion in donor contributions, financing more than 190 public and private sector projects worldwide. Its aim is broad: to improve food and nutrition security while strengthening agriculture systems along the entire value chain, from farm to table.

Now, as donor budgets tighten, the fund is preparing for a smaller replenishment cycle in 2026 — and a shift in priorities. Instead of chasing billions, GAFSP is positioning itself as a more targeted, catalytic tool. “I don’t anticipate it being massively ambitious,” Natasha Hayward, program manager for GAFSP, told Devex. “But even with this more boutique level of financing, we think we can put that to very impactful use.”