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International Fund for Agricultural Development

Coordinates: 41°49′47″N 12°29′39″E / 41.82972°N 12.49417°E / 41.82972; 12.49417
From Wikipedia, the free encyclopedia

International Fund for Agricultural Development Emblem of the United Nations
AbbreviationIFAD
Formation15 December 1977; 46 years ago (1977-12-15)
TypeUnited Nations Specialised Agency
Legal statusActive
HeadquartersVia Paolo di Dono, 44, 00142
Rome, Italy
Coordinates41°49′47″N 12°29′39″E / 41.82972°N 12.49417°E / 41.82972; 12.49417
Region served
Worldwide
Official language
English, French, Spanish, Arabic[1]
President
Alvaro Lario
Vice-President
Gerardine Mukeshimana
Parent organization
United Nations
Websiteifad.org

The International Fund for Agricultural Development (IFAD) is an international financial institution and a specialised agency of the United Nations that works to address poverty and hunger in rural areas of developing countries. It is the only multilateral development organization that focuses solely on rural economies and food security.[2]

IFAD is involved in over 200 projects across nearly 100 countries.[3] It funds and sponsors initiatives that improve land and water management, develop rural infrastructure, train and educate farmers in more efficient technologies, build up resilience against climate change, enhancing market accessibility, and more.[4]

IFAD has 180 member states with the Organization of the Petroleum Exporting Countries (OPEC) and members of the Organisation for Economic Co-operation and Development (OECD).[5] As of 2021, since its foundation, IFAD has provided US$23.2 billion in loans and grants and coordinated an addition US$31 billion in international and domestic co-financing.[6]

History

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In the early 1970s, global food shortages led to widespread famine, malnutrition, and mortality, particularly affecting the Sahel region of Africa. The world required long-term, coordinated approaches to the structural issues that were causing destitution and food shortages. IFAD was established as an international financial institution in 1977 through United Nations General Assembly Resolution 32/107 (15 December, 1977) as one of the major outcomes of the 1974 World Food Conference.[7] The conference highlighted the vital importance of addressing food insecurity and poverty in emerging countries' rural communities.[8] IFAD officially opened its headquarters in Rome, Italy and convened its first governing council with 120 member states and it is a member of the United Nations Development Group.[9] The current President of the IFAD is Alvaro Lario from Spain, who took over from Gilbert Houngbo in late 2022.[10]

Governance and leadership

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Presidents of the International Fund for Agricultural Development[11]
No. Name Country of Origin Took office Left Office
1. Abdelmuhsin M. Al-Sudeary Saudi Arabia Saudi Arabia 1977 1984
2. Idriss Jazairy  Algeria 1984 1993
3. Fawzi Al-Sultan  Kuwait 1993 2001
4. Lennart Båge  Sweden 2001 2009
5. Kanayo F. Nwanze  Nigeria 2009 2017
6. Gilbert Houngbo  Togo 2017 2022
7. Alvaro Lario  Spain 2022 Incumbent

Membership

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"Membership of the Fund shall be open to any State member of the United Nations, or of any of its specialized agencies, or of the International Atomic Energy Agency. Membership shall also be open to any groupings of States whose members have delegated to it powers in fields falling within the competence of the Fund, and which is able to fulfil all the obligations of a Member of the Fund” (Art. 3, sec. 1 of the Agreement Establishing IFAD). [12]

IFAD currently has 180 Member States, categorized into three main groups that reflect the economic diversity and development priorities of its members.[5]

List A includes high-income countries that contribute significantly to IFAD's financial resources. These nations have declared themselves ineligible for IFAD financing and do not qualify for Official Development Assistance (ODA) as defined by the Organisation for Economic Co-operation and Development (OECD). Their role is crucial in providing funding for global agricultural development initiatives.

List B includes Member States from the Organization of the Petroleum Exporting Countries (OPEC) that also contribute to IFAD's resources. This category comprises oil-rich countries that may be eligible for particular agricultural development initiatives, demonstrating development aid.

List C includes developing nations eligible for IFAD money and services, many of which also contribute to the organization's resources. This list is divided into three regional sub-lists: C1 (countries in Africa), C2 (countries in Europe, Asia, and the Pacific) and C3 (countries in Latin America and Caribbean).

List A - 28 Member States[13]

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List B - 12 Member States [13]

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Sublist C1 - 50 Member States [13]

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Sublist C2 - 57 Member States [13]

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Sublist C3 - 32 Member States [13]

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IFAD Member States with List Membership Process Ongoing [13]

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 Lithuania

See also

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References

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  1. ^ IFAD's official languages Archived 6 December 2023 at the Wayback Machine at IFAD official site
  2. ^ "IFAD at a glance". IFAD. Retrieved 28 August 2020.
  3. ^ "IFAD at a Glance".
  4. ^ "Topics". IFAD. Retrieved 28 August 2020.
  5. ^ a b "Membership of IFAD". International Fund for Agricultural Development. Retrieved 6 December 2024.
  6. ^ "International Fund for Agricultural Development | Department of Economic and Social Affairs". forest-finance.un.org. Retrieved 30 May 2023.
  7. ^ "Report of the Secretary-General on the work of the United Nations System" (PDF). United Nations. Retrieved 6 December 2024.
  8. ^ "IFAD's History". IFAD. Retrieved 7 December 2024.
  9. ^ "UNDG Members". United Nations Development Group. Archived from the original on 11 May 2011. Retrieved 15 May 2012.
  10. ^ "Alvaro Lario, global finance executive, takes helm at UN's International Fund for Agricultural Development". IFAD. 30 September 2022. Retrieved 17 December 2022.
  11. ^ "Former Presidents". IFAD. Retrieved 7 December 2024.
  12. ^ "Agreement Establishing the International Fund for Agricultural Development". International Fund for Agricultural Development. Retrieved 6 December 2024.
  13. ^ a b c d e f "Member States". International Fund for Agricultural Development. Retrieved 6 December 2024.
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