Ahead of the New Global Financing Pact Summit in Paris, several of the world's poorest countries are increasing their support for the International Fund for Agricultural Development (IFAD), signaling the severe impact of climate catastrophes, inflation, and persistent hunger.
These nations recognize the long-term benefits of agricultural development in creating resilient rural economies.
IFAD is currently undergoing its 13th replenishment of core resources (IFAD13), during which representatives from its 177 member states establish strategic priorities and commit funds for the organization's work from 2025 to 2027.
Noting the strong support generated by early pledges, IFAD President Alvaro Lario urged all member states to demonstrate ambition in their financial commitments to improve the lives of small-scale farmers and impoverished rural communities.
Alvaro Lario emphasized that IFAD member states have committed to eliminating poverty and hunger by 2030 while transforming food systems. Recognizing the challenging times, Lario stressed that higher funding for agriculture and food systems is crucial.
This statement was made during the second consultation with member states.
Several low- and lower-middle-income countries have already made early pledges, including Cambodia ($1 million), Côte d'Ivoire ($1 million), the Democratic Republic of the Congo ($0.5 million), Niger (approximately $0.164 million), and South Sudan ($0.1 million). While many of these nations receive concessional loans from IFAD, they also contribute to the Fund to demonstrate their support and encourage others to do the same.
Josephine Joseph Lagu, Minister of Agriculture and Food Security in South Sudan, encouraged other countries to contribute to IFAD13, highlighting the significant benefits that outweigh the contributions.
IFAD is the sole United Nations development organization and international financial institution dedicated to transforming rural economies and food systems to be more inclusive, productive, resilient, and sustainable.
Also read: G20: IFAD President Alvaro Lario advocates for increased investment in rural transformation
During the meeting, Rania Al-Mashat, Egypt's Minister of International Cooperation, expressed the collective sentiment by rallying behind IFAD's 13th Replenishment and recognizing the urgent need to support its mission.
She acknowledged the undeniable impact of IFAD's work.
Small-scale food producers play a critical role in supplying one-third of the world's food and up to 70 percent of food consumed in certain low- and middle-income countries. Paradoxically, they are disproportionately affected by hunger, poverty, conflict, and climate change.
These farmers earn only $0.06 for every $1 worth of food they produce, while 80 percent of the world's poorest people reside in rural areas, according to a press release.
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Lario reminded member states that investing in agriculture and rural development is one of the most effective ways to combat hunger, poverty, fragility, migration, and the loss of ecosystems and biodiversity.
He expressed pride in IFAD's reputation as one of the highest-rated development organizations globally, offering a unique value proposition with extensive reach, outstanding results, and an exceptional return on investment.
IFAD's commitment and relevance to global food security were recently recognized in the G7's Hiroshima Action Statement.
Ahead of the session, traditional IFAD donors, including Germany, expressed their commitment to IFAD's work.
Also read: Placing small-scale farmers, rural populations at heart of climate discussions: IFAD at COP 27
Jochen Flasbarth, State Secretary of Germany's Federal Ministry for Economic Cooperation and Development (BMZ), emphasized the need for sufficient funding for IFAD, linking efforts to climate change adaptation and building climate-resilient agriculture.
Flasbarth also emphasized the importance of empowering women within supply chains and food systems for increased resilience.
Manuel Nogales, Executive Director of Acodea, the Spanish agency for international development cooperation and a long-term IFAD partner, highlighted the necessity of increasing food production through inclusive and sustainable food systems.
IFAD plays a vital role in helping countries feed their people while promoting economic and social development in rural areas sustainably.
Today's consultation will be followed by another session in November, with a final pledging meeting with member states scheduled for December.