International Fund for Agricultural Development: In News
The Government of India highlighted country’s pioneering achievements in rural transformation and development leadership at International Fund for Agricultural Development – India Day event held in Rome.
- It is an international financial institution and a specialized agency of the United Nations.
- It was established as an international financial institution in 1977 through United Nations General Assembly Resolution.
- It is dedicated to eradicating poverty and hunger in rural areas of developing countries.
- IFAD seeks to empower rural people to increase their food security, improve the nutrition of their families.
- Its projects and programmes are carried out in remote and environmentally fragile locations, including least-developed countries and Small Island developing States.
- It is the only multilateral development institution that focuses exclusively on transforming rural economies and food systems.
- It is a member of the United Nations Development Group (UNDP).
- It grants support research, innovation, institutional change, and pro-poor technologies.
- It extends two types of grants, depending on the nature of the innovation and the scope of intervention: global or regional grants and country-specific grants.
- Membership: Currently, IFAD has 180 Member States, including India. (India is a founding member of IFAD).
- Governance: Governing Council is the highest decision-making body which meets every three years.Headquarter: Rome, Italy.
