14 February 2018: Members of the International Fund for Agricultural Development (IFAD) agreed to a programme of loans and grants totaling US$3.5 billion to reduce poverty, end hunger and increase resilience to climate change in rural communities around the world.

Meeting under the theme, ‘From fragility to long-term resilience: investing in sustainable rural development,’ the 41st session of the IFAD Council was tasked, among other issues, with the Fund’s replenishment for the period 2019 to 2021. IFAD Council members agreed to set a target of US$3.5 billion for the Fund’s operations during this time frame, a 10% increase over the current period. IFAD estimates that the funding will allow it to support 45 million smallholder farmers in increasing productivity and market access, build resilience to climate change of 24 million smallholders, and improve nutrition for 12 million people. Members also agreed to measures that are expected to deepen and improve the Fund’s operation over the coming three years.

“The current pace of development may not be sufficient to achieve the SDGs.” – Gilbert Houngbo, IFAD President

IFAD President Gilbert Houngbo stated that the Fund’s future work will focus on climate, nutrition, gender equality and youth employment. Noting the importance of official development aid (ODA) for funding rural development and addressing poverty and hunger, he underlined that “the current pace of development may not be sufficient to achieve the SDGs.”

In her keynote address, Sheikh Hasina, Prime Minister of Bangladesh, described the challenges of leaving no one behind under conditions of climate change and population growth. She called for investments in the development of “rural social fabric and climate resilience.” Olusegun Obasanjo, former President of Nigeria, cited the current water crisis in Cape Town, South Africa, to underline the threat that climate change impacts represent to rural communities in Africa. He stressed that, “in Africa, climate change is no longer an abstract concept, but a reality.”

An interactive panel of youth representatives discussed the need to invest in youth, particularly in fragile contexts, as a requirement to achieve the SDGs. Panelists from Myanmar, Colombia and Kenya stressed access to finance to enable youth to use innovations for increasing productivity and climate resilience. Panelists also underlined the importance of education to support young farmers as effective agents of change.

On the sidelines of the session, IFAD signed a Reimbursable Technical Assistance (RTA) Agreement with Saudi Arabia to develop value chains for coffee and mango using new technologies to create improved products and enhanced access to markets. Under the agreement, Saudi Arabia will invest in the development of sustainable and highly efficient production systems aiming to optimize the use of scarce water resources.

The 41st session of the IFAD Council was held from 13-14 February 2018, in Rome, Italy. The Governing Council, IFAD’s main decision-making body, meets annually to approve the Fund’s budget and adopt guiding criteria for policies, criteria and regulations for IFAD’s work. [IFAD Press Release. 13 February. Opening] [IFAD Press Release. 13 February. Keynote Speeches] [IFAD Press Release. 14 February. IFAD Replenishment] [IFAD Press Release. 13 February. Saudi Arabia RTA] [UN News Release] [IFAD Council Website and Documents]