The US Department of Agriculture (USDA) has announced plans to invest up to $2.8 billion in funding under the first pool of the Partnerships for Climate-Smart Commodities.
The announcement was made by agriculture secretary, Tom Vilsack, who said the USDA will support 70 climate-smart commodities and rural projects with the funds.
According to the USDA, the initial projects will “expand markets for climate-smart commodities, leverage the greenhouse gas benefits of climate-smart commodity production and provide direct, meaningful benefits to production agriculture, including for small and underserved producers”.
Vilsack said: “There is strong and growing interest in the private sector and among consumers for food that is grown in a climate-friendly way. USDA is delivering on our promise to build and expand these market opportunities for American agriculture and be global leaders in climate-smart agricultural production. This effort will increase the competitive advantage of US agriculture both domestically and internationally, build wealth that stays in rural communities and support a diverse range of producers and operation types.”
$1 billion has already been allocated for the programme, divided into two funding pools. Due to unprecedented demand and interest, the Biden-Harris administration increased the total funding allocation to more than $3 billion.
Projects from the second funding pool will be announced later this year.
© FoodBev Media Ltd 2022
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