Japan plans up to $94 million in agriculture bonds for developing nations

Key facts

• Japan International Cooperation Agency plans to issue bonds as early as November.
• The bonds will support agriculture and fisheries projects in developing countries.
• The initiative aims to mitigate risks to food security posed by high fertilizer prices and climate change.
• The looming threat of a 'super' El Nino is a key concern.

The Japan International Cooperation Agency (JICA) is preparing to issue bonds as early as November, with a potential value of up to $94 million. The initiative is designed to support agriculture and fisheries projects in developing countries. This move comes as concerns mount over global food security, exacerbated by high fertilizer prices and the potential impact of a 'super' El Nino event. The bonds will fund projects such as irrigation systems, aiming to enhance food production and resilience in vulnerable nations. The timing of the issuance highlights the growing urgency to address climate change impacts on food supplies.