IFAD Full Form: History, Opportunities, Challenges etc.

The IFAD Full form is an International fund for agricultural development and it 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 on rural economies, food security and climate change.

Headquartered in Rome, Italy, IFAD is involved in over 200 projects across nearly 100 countries. 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, enhance market accessibility, and more

History

One of the primary outcomes of the 1974 World Food Conference was the establishment of IFAD as an international finance agency by United Nations General Assembly Resolution 32/107 (30 December 1977). It is a part of the UN Development Group and has its headquarters in Rome, Italy. Gilbert F. Houngbo, a Togolian, serves as the president of the IFAD. He was chosen for a second, four-year term in 2021 after being selected in 2017.

IFAD Overview

IFAD Full FormInternational fund for agricultural development
HeadquartersRome, Italy
Formation15 December 1977
Managing DirectorGilbert Houngbo
MethodSocial science research
Websitewww.ifad.org
Official languagesEnglish

IFAD Opportunities

Agriculture has a track record of reducing poverty. Compared to growth in other sectors, GDP growth from agriculture is more successful at reducing poverty. Growth in agriculture in sub-Saharan Africa eliminates poverty up to 11 times more quickly than growth in other industries.

IFAD-funded programmes have demonstrated that rural people may escape poverty provided they have access to money, markets, technology, and knowledge.

But our effort has benefits beyond simply boosting rural residents’ economic development. Additionally, it encourages inclusivity and gender equality increases the capability of neighbourhood associations and communities, and increases climate change resistance.

Our work is essential to achieving the 2030 Agenda for Sustainable Development by supporting initiatives that revitalise rural regions and fighting for the needs of underprivileged rural residents.

Challenges

The most pressing problems facing humanity cannot be put off due to the expanding world population, which will reach 9 billion by 2050, the widening wealth and poverty divide, and the intensifying struggle for limited resources.

In the most remote areas of developing countries and in unstable conditions, where few development organisations venture, IFAD works where poverty and hunger are at their worst.

We have established a partnership-focused, cost-efficient strategy that produces outcomes. Our development strategy, which links farmers and underprivileged rural people to markets and services so they can increase their productivity and income, is centred on small-scale agriculture.

Frequently Asked Questions (FAQs)

What is the IFAD Full Form?

The IFAD Full Form is an International fund of agricultural development.

When is IFAD established?

The IFAD is established on 15 December 1977.

What does IFAD do?

It works to address poverty and hunger in rural areas of developing countries.

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