US to support Pakistan through Global Fertilizer Challenge
- Through this initiative, US will help farmers use fertiliser more efficiently and maximise production
The US will provide support to Pakistan through its Global Fertilizer Challenge, launched to help low- and middle-income countries address the fertiliser shortage, said the US Embassy in Islamabad on its Twitter handle on Thursday.
“Through this multiyear partnership as part of our US-Pakistan Green Alliance, we will help Pakistani farmers use fertilizer more efficiently and maximize food production,” it added.
President Joe Biden had earlier invited countries at the COP27 to join the US in launching the Global Fertilizer Challenge with the goal of raising $100 million in new funding.
Following the invitation, a total of $135 million was raised in new funding for fertilizer efficiency and soil health programs to combat shortage and food insecurity.
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As per the Foreign Agriculture Service, a part of US Department of Agriculture, the Global Fertilizer Challenge will support innovative research, demonstrations, and training to help countries with high fertilizer usage and loss adopt efficient nutrient management and alternative fertilizers and cropping systems.
The development comes as the ongoing Russia-Ukraine conflict leads to a surge in fertiliser prices, adding to the burden of countries like Pakistan, which already faces liquidity issues amid dwindling foreign exchange reserves.
On Wednesday, United States Ambassador to Pakistan, Donald Blome, together with Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha formally launched the Investment Promotion Activity (IPA) – a US government-led initiative to enhance Pakistan-US bilateral trade.
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The IPA initiative is a five-year project that will help strengthen Pakistan’s business environment, build the capacity of Pakistani institutions focused on investment promotion, attract foreign direct investment, and increase US-Pakistan bilateral trade and investment.
The US has long been Pakistan’s largest export market, with potential for further growth. According to the US Census Bureau, the United States imported nearly $5.3 billion in Pakistani goods in 2021, and US investments in Pakistan went up by 50% in the past year.
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