IFAD renews commitment to 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.
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.
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.
Source: allafrica.com