A/RES/66/220 capacities, especially when excessive food price volatility causes access and market disruptions in the short, medium and long term within the context of local, national, regional and international development policies, taking into account World Trade Organization rules and provisions; 22. Supports concrete initiatives aimed at improving protection for the most vulnerable against excessive price volatility through risk management strategies, tools and instruments, such as the development of the pilot project led by the Economic Community of West African States for a targeted regional emergency humanitarian food reserve, consistent with annex 2 to the World Trade Organization agreements; 23. Recognizes the importance of smallholder farmers in developing countries, including women and local and indigenous communities, in ensuring food security and nutrition, reducing poverty and preserving ecosystems, and the need to assist their development; 24. Notes the challenges faced by indigenous peoples in the context of food security, and in this regard calls upon States to take special actions to combat the root causes of the disproportionately high level of hunger and malnutrition among indigenous peoples; 25. Stresses the need to strengthen the capacity of smallholder and women farmers as a strategy to enhance agriculture development and food security by promoting equitable access to land, water, financial resources and technologies in accordance with national legislation, as well as improving smallholder farmers’ participation in and access to sustainable agriculture value chains and markets; 26. Underlines the need for substantial additional investment and better policies in support of sustainable agricultural development, especially smallholder agriculture, in order for many of the poorest countries to reach the poverty and hunger targets of the Millennium Development Goals; 27. Stresses the need to increase sustainable agricultural production to augment the availability and quality of food, including through long-term investment, equitable access of smallholder farmers, including women, to markets, credit and inputs, improved land-use planning, crop diversification, commercialization, development of an adequate rural infrastructure and enhanced market access for developing countries, as well as sound water management, including efficient irrigation, water harvesting and storage and the appropriate management of relevant facilities, and the development of strong agriculture value chains and investment in rural infrastructure, which are critical to accelerating progress in order to achieve the hunger-related Millennium Development Goals; 28. Recognizes the urgent need to finalize the negotiations on the voluntary guidelines on the responsible governance of tenure of land, fisheries and forests in the context of national food security, which will underpin smallholder investment in agriculture; 29. Also recognizes the importance of agricultural investment, including foreign direct investment, through, inter alia, the private sector in enhancing agriculture development and food security as well as the need to promote responsible international investment in agriculture, and therefore calls for all investors to conduct agricultural practices in accordance with national legislation, taking into account national sovereignty over natural resources, environmental sustainability and the importance of promoting the well-being and improving the livelihood of local communities and indigenous peoples, as appropriate; 7