2023-12-28 23:15:18
In mid-December, the United Nations International Fund for Agricultural Development (IFAD) launched its new fundraising campaign. He is seeking to raise two billion dollars in new financing to reach a total envelope of ten billion for his three-year action program. Objective: improve the living conditions of 100 million rural people.
The fourth session of replenishment of IFAD’s financial resources took place in Paris and was co-organized by Angola and France. In Angola, IFAD is financing nine projects that have benefited nearly 600,000 families. An example of success, according to the Angolan Minister of Fisheries and Marine Resources, Carmen do Sacramento Neto, is the AFAP project which helped develop the capacities of fish farmers.
« Two pools were manufactured for the benefit of 235 familiesexplains the minister. A pond is dedicated to the production of fish for sale on the markets. The other basin for local consumption. This made it possible to create a source of income for the communities, but also to meet food needs. »
This call for contributions from IFAD comes at a time when other institutions are also organizing their fundraising. 48 states have still committed to contributing an amount of just over a billion dollars. “ It is true that many countries have to choose between different organizationsrecognizes Alvaro Lario, the president of the Fund. For us, it is therefore a testimony to the confidence they have in the mission and especially in IFAD’s results. »
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Adapting to the new global economic context, a mandatory effort
The uniqueness of IFAD is that it is the first specialized agency of the United Nations to be connected to global financial markets, which allows it to raise more funds. “ IFAD’s borrowing capacity is rated AA+. We also issue bonds through bilateral private placements », continues the president.
It is an initiative taken in the complex economic context of recent years. Indeed, public finance is no longer the option favored by international institutions. The IMF and the World Bank have started a discussion on financing mechanisms, from which the IFAD is not immune.
« Now we use our balance sheet to co-invest with the private sector, explains Alvaro Lario once more. Now, for the new country strategies and our new programs, we will see what our entry points are, the ways to connect and integrate the private sector into our projects. »
IFAD aims to help smallholder farmers who are essential to food security in low-income countries. These small farmers are also the most vulnerable to climate change and conflict.
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