For decades, America’s approach to development overseas has been stuck in the past — too slow, too bureaucratic, and too focused on short-term projects. The result? Billions of tax dollars spent, but far too little progress in lifting farmers out of poverty or ending aid dependency. 

It’s time for a new model — one that puts markets, not handouts, at the center of U.S. investment.

Agriculture is one of the most powerful engines of economic growth — it’s roughly three times more effective at reducing poverty than investment in other sectors. And when farmers in developing countries succeed, the benefits flow both ways: they feed their families and communities, and they also buy goods, technology and services from American farmers, businesses and research institutions. In short, more resilient African farms mean more exports for American producers. 

This is not philanthropy — it’s a smart trade strategy. The State Department recently underscored Africa’s unrealized potential as a U.S. trading partner. With a new commercial diplomacy strategy in place, and ambassadors now measured on the deals they deliver, the moment is ripe to move from aid to trade, aligning U.S. foreign policy with farmers on both sides of the Atlantic.

This new model should rest on three core principles.

First: stay market-based, not aid-dependent. Long-term investment in proven business models beats short-term “projects” that both require lots of red tape and keep countries stuck in cycles of dependency. Building from grant-based technical assistance toward sustainable business models empowers local farmers and puts them on a path to achieve prosperity without foreign aid.  

Second: strip away bureaucracy. American taxpayer dollars should be judged by outcomes — such as food grown and markets expanded — and not by flashy but relatively meaningless statistics, such as the number of farmers trained.

Third: demand value for money. Every investment should be measured against alternatives to ensure the best return for the taxpayer and the farmer.

In practice, this requires moving from a central planning model to something closer to a “Shark Tank” for agricultural ventures. U.S. embassies, working with regional bureaus, could set trade and development goals and invite proposals from local enterprises with proven track records.

Agencies would then invest in business plans — not bureaucratic projects — using a mixture of catalytic research and capacity-building funding, blended finance vehicles to crowd in private capital, and tools from the U.S. Department of Agriculture to connect these ventures to American markets.

Instead of micromanaging, Washington would set clear outcomes and hold ventures accountable for results. The winners would be local farmers and entrepreneurs, who drive their own growth, as well as American farmers and companies who gain new partners and markets. And the biggest winners of all? You — the American taxpayer — who will see every dollar stretch further toward prosperity and security.

Another innovative and private sector-led model worth noting is the Foundation for International Food Security – Sens. Lindsey Graham, R-S.C., John Boozman, R-Ark., and Chris Coons, D-Del., have proposed establishing this bipartisan initiative through new legislation. If created, this public-private financing mechanism would provide substantial financial leverage for U.S. government contributions while directly investing in enterprises across the full food systems value chain. 

If we sincerely want to put “America First,” then agricultural investment abroad should be central to the agenda. By helping farmers abroad grow more food, we create jobs and markets at home. By transitioning from aid to trade, we build stronger alliances and partners. And by replacing bureaucracy with accountability, we finally get real value for money.

The old system has had its day. It’s time to let farmers — some of the hardest-working people on the planet — take the lead in building a new era of prosperity, trade and security.

Former Republican Rep. Ted Yoho, who served Florida’s 3rd Congressional District from 2013 through 2021, was a senior member of the House Foreign Affairs and Agriculture committees as well as a member of the Congressional International Conservation Caucus. He is now a senior adviser with the Kyle House Group.

Colin Christensen is the One Acre Fund’s global policy director.