Ifad member-states approve plan to reduce hunger, poverty in rural areas
THE Philippines and 177 other memberstates of the International Fund for Agriculture (Ifad) recently adopted an ambitious agenda to improve the production, incomes, food security and resilience of more than 100 million rural people over three years.
During the second day of Ifad’s annual Governing Council Meeting, government leaders adopted a report and resolution for the 13th replenishment of IFAD’S resources.
Ifad said 68 member-states have committed an unprecedented $1.34 billion in support of a 3-year program of work (2025-2027).
Pledges already exceed the total $1.28 billion pledged for the 12th replenishment of Ifad (2022-2024). In the coming months, Ifad expects more pledges as it works to mobilize $2 billion in new funding to implement a $10-billion program of work.
“Your investments will create jobs and opportunities and increase resilience. IFAD is an excellent and very effective vehicle against food insecurity, climate change and biodiversity loss,” said Alvaro Lario, president of IFAD.
“They are fundamental investments in creating shared prosperity and resilience in the world’s most vulnerable communities.”
Lario encouraged member-states who have not yet pledged to do so in the coming months. “The conversation will continue. The momentum is there. This $1.34 billion is record breaking but not enough to achieve the target we have.”
Among the 68 member-states that have made pledges in the current replenishment cycle, 45 made their highest pledge ever and 14 of those pledges have increased their commitment by more than 50 percent since the last pledging cycle.
To support small-scale farmers and their efforts to build resilience in the face of growing challenges, the Ifad13 report and resolution adopted by Member States set three main priorities for the fund: Ifad will increase its focus on fragile contexts, scaleup investments in biodiversity and climate resilience for small-scale farmers, and further leverage engagement with the private sector.
Priorities have been determined based on a year-long consultation process with its Member States and stakeholders and careful analysis of today’s multiples global crisis.
About 3.1 billion people, nearly half of the global population, live in the rural areas of developing countries. These areas are home to over 80 per cent of the world’s extreme poor.
Ifad noted that violent conflict has spiked dramatically in several regions. By 2030, almost 60 percent of the world’s poor will live in countries classified as fragile or affected by conflicts.
“Climate change and biodiversity extinction are accelerating. As global temperatures continue to rise, leading to worse living conditions for millions of people worldwide, the poorest are the most vulnerable and will be the most severely impacted. Today close to 700 million people live in extreme poverty.”
Ifad said official development assistance and developing countries’ financing will not suffice to close the finance gap for climate adaptation, to end hunger and make food systems more sustainable, resilient and equitable.
“Engagement and financing from private sector stakeholders ranging from global investors to local small and medium enterprises will be necessary. Estimates find that between $33 and $50 billion in additional finance per year until 2030 will be needed to fight hunger globally.”