IFAD Full Form: IFAD stands for International Fund for Agricultural Development. It is an international financial institution and a specialised agency of the United Nations that seeks to alleviate poverty and hunger in developing countries’ rural areas. It is the only international development organisation devoted entirely to rural economies, food security, and climate change.
History of IFAD
The formation of IFAD as an international financing organisation by United Nations General Assembly Resolution 32/107 (30 December 1977) was one of the principal outcomes of the 1974 World Food Conference.
It is a member of the United Nations Development Group, with headquarters in Rome, Italy. Gilbert F. Houngbo, a Togolian, is the IFAD’s president. After being elected in 2017, he was picked for a second four-year term in 2021.
IFAD is involved in over 200 projects in nearly 100 countries. It funds and sponsors activities to improve land and water management, establish rural infrastructure, train and educate farmers in more efficient technologies, increase resilience to climate change, improve market accessibility, and other initiatives.
Initiatives and Facilities of IFAD
As the world focuses on the 2030 Agenda for Sustainable Development, IFAD is sponsoring a number of innovative projects and platforms targeted at eliminating hunger and poverty. You may find information on IFAD activities and facilities in the table below.
|Adaptation for Smallholder Agriculture Programme (ASAP)||Indigenous Peoples Assistance Facility (IPAF)|
|Agri-Business Capital (ABC) Fund||The Financing Facility for Remittances (FFR)|
|China-IFAD South-South and Triangular Cooperation Facility||Diaspora Investment in Sustainable Rural Youth Entrepreneurship in Mali|
|IFAD Crisis Response Initiative||Global gender transformative approaches initiative for women’s land rights|
|IFAD’s Rural Poor Stimulus Facility||Gender Transformative Mechanism in the Context of Climate Adaptation|
|Pacific Islands Rural and Agriculture Stimulus Facility||Joint Programme on Accelerating Progress towards the Economic Empowerment of Rural Women – JP RWEE|
|The Climate and Commodity Hedging to Enable Transformation (CACHET)||International Aid Transparency Initiative|
|A platform for Agricultural Risk Management (PARM)||National Designated Authorities partnership platform|
|Insurance for Rural Resilience and Economic Development (INSURED)||Rural Resilience Programme|
|International Land Coalition (ILC)||The Smallholder and Agri-SME Finance and Investment Network|
|Facility for Refugees, Migrants, Forced Displacement and Rural Stability (FARMS)||Private Sector Financing Programme|
Challenges of IFAD
The most important issues confronting humanity cannot be postponed due to the world’s burgeoning population, which is expected to reach 9 billion by 2050, the growing wealth and poverty difference, and the escalating competition for scarce resources.
IFAD works in the most distant and unstable areas of developing countries, where few development agencies venture, to alleviate poverty and hunger.
They have developed a partnership-focused, cost-effective strategy that yields results. Their development strategy is built on small-scale agriculture, which connects farmers and poor rural people to markets and services, allowing them to boost their production and income.
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