BEI-IFAD – agreement for agricultural development

BEI and IFAD signed an agreement today to reinforce and expand cooperation between the two organisations

> Agriculture - exceptional measures for EU farmers

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IFAD

The International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations, was established as an international financial institution in 1977 as one of the major outcomes of the 1974 World Food Conference

IFAD is dedicated to eradicating rural poverty in developing countries. Seventy-five per cent of the world's poorest people - 1,4 billion women, children and men - live in rural areas and depend on agriculture and related activities for their livelihoods.

BEI-IFAD agreement

The agreement reflects the shared focus of IFAD and EIB on developing agribusiness and creating jobs and prosperity in the countries where the two organisations both operate. In the context of recent international agreements such as the Sustainable Development Goals and the Paris Agreement on climate change, the partnership will focus on investments in agriculture which will result in sustainable and inclusive economic growth and continued food supplies for a growing population. 

Through this partnership, the two organisations aim to share knowledge, implement joint projects and provide financial instruments, such as loans and guarantees, to better channel crucial financing to help smallholder farmers maximise their potential.

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Photo credit: IITA Image Library via Foter.com / CC BY-NC