Engagement with the private sector represents an opportunity for FAO to more efficiently deliver on its mandate, advance on the path to achieving the 2030 Sustainable Development Agenda, and ensure better production, better nutrition, a better environment and a better life, leaving no one behind. This report covers the first year of implementation of FAO’s Strategy for Private Sector Engagement 2021-2025. It looks at the progress made since the strategy was approved during the 165th session of the FAO Council in December 2020, documenting changes in approaches to private sector engagement, key achievements and lessons learned, and outlines major priorities for private sector engagement in the year to come.

This strategy specifically targets the different types of the private sector from large national and multinational corporations, to financial institutions, micro, small and medium enterprises (MSMEs), industry and trade organizations and consortia which represent private sector interests, farmers and farmers’ organizations, producers’ organizations and cooperatives and philanthropic foundations. At the same time, it also targets FAO Membership, as well as the general public who wish to learn more about FAO's strategy and ways of engaging with the private sector.

A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.

In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.