The
173 Member States of the International Fund for Agricultural
Development (IFAD) on December 19, 2014 reaffirmed their shared commitment to the
Fund’s mission by announcing a US$1.44 billion target of contributions
directed at investing in rural people in developing countries.
The target of IFAD’s 10th Replenishment will enable it to strengthen operations over a three-year period from 2016 to 2018. During this timeframe, IFAD’s plan is to expand its
reach to up to 130 million rural people, which represents as much as a
31 per cent increase of those benefitting from its investments.
IFAD
President Kanayo F. Nwanze said that the strong endorsement by Member
States comes at a critical time, enabling the Fund to be a key
contributor to achieving the proposed Sustainable Development Goals
(SDGs) to be adopted in September 2015.
“The
decisions we make today have profound implications, determining not
just the shape of our future food systems but the shape of societies for
decades to come,” Nwanze said. “Often rural areas are invisible and
neglected but this commitment by Member States shows their belief in the
role that small farmers play in creating a world without hunger.”
More
than three-quarters of the world’s poorest people live in the rural
areas of developing countries and depend mainly on agriculture to earn a
living. Among the proposed SDGs, the second goal recognizes the
importance of smallholder farmers in achieving food security through a
doubling of their agricultural productivity and income.
Beyond
the core contributions pledged by Member States, and with their
support, IFAD will continue to mobilize and leverage additional
resources to meet the growing demand for its services. These include
sovereign borrowing from Members and cofinancing agreements with
national governments, international donors and the private sector,
contributing to IFAD’s overall programme of loans and grants that
amounts to $3 billion over three years.
“It
is through partnership that we can ensure that no region is forgotten
and no person marginalized,” Nwanze said. “It is our best hope of
feeding every person on the planet.”
IFAD
is the only United Nations agency and international financial
institution exclusively devoted to investing in rural areas and
harnessing the potential of small farmers and other rural people to
contribute to sustainable development. By working with governments,
civil society, the private sector, and other partners, IFAD increases
investments that are transforming rural areas economically and socially.
Every three years, Member States replenish the resources that the Fund
provides as concessional loans and grants to developing countries.