Hunger has increased substantially since the Third Financing for Development Conference held in Addis Ababa in July 2015, reaching 733 million people in 2023. Yet, financing for agrifood systems, which was already insufficient, has not increased substantially since then. The Fourth Financing for Development Conference due to take place in July 2025 is a crucial opportunity to prioritize increased investment in the transformation of agrifood systems. This report analyses the agrifood financing landscape, particularly in light of the current global polycrisis, and provides recommendations for reform to ensure that sufficient funding reaches the countries and people most in need.