Full form of IFAD with All Details

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What is IFAD?

IFAD or International Fund for Agricultural Development is an International Financial Institution (IFI) and a specialized United Nations agency that works on removing hunger and poverty in developing countries for rural people. IFAD was formed on December 15, 1977, by United Nations General Assembly Resolution. The decision of creating IFAD was made by the assembly at the World Food Conference held in 1974. It is a unique partnership of members of OPEC (Organizations of the Petroleum Exerting Countries), other developing countries and member states of OECD (Organizations for Economic Co-operation and Development.

Who is the Head of IFAD?

IFAD or International Fund for Agricultural Development is headed by the president Gilbert Houngbo. He is from Togo. He also worked in the United Nations Development Programme (UNDP) as a Chief of Staff. He was elected as the president of IFAD in 2017 and assumed office on April 01, 2017.

Headquarter of IFAD

IFAD is headquartered in Rome, Italy. As per the Official Data, since its formation, IFAD has provided over the US $ 21 Billion in grants and low-interest loans to projects in developing countries. This grant has reached about 491 million people globally.

Role and Objective of IFAD

  • IFAD believes in eradicating poverty by making people comprehensive, productive, Strong and sustainable.
  • To achieve this, it grants monetary help to developing countries in terms of low-interest rate loans
  • IFAD invests in rural people to empower them, to increase food security, nutrition of their families and subsequently increasing their income.   
  • IFAD invests in people who are at risk of leaving behind. It invests in projects on developing countries that are in critical need of the Monterey assistance.
  • IFAD is the only global development program focused on transforming agriculture, rural economies, and Food Systems.
  • IFAD works with the government of developing countries, civil society, the private sector, and other development partners in order to respond to the challenges facing by the countries with urgent needs.

Members states of IFAD

IFAD currently has a total of 177 member states. The states are mostly developing counties, Middle and high-income countries that are dedicated to removing poverty and hunger globally. The recently added country to this list is Poland (January 29, 2020). India was added third to the list on March 28, 1977. The very first country that was added to the list was Pakistan on March 09, 1977, followed by Sri Lanka and India

IFAD in India:

IFAD is in India since 1979 (two years after its establishment). It is located in New Delhi, India. The current strategy of the country is to provide and increase access to agricultural technologies, natural resources, financial services and value chains to rural poor people.

The focus areas are Tribal Communities, Small Holder farming households, landless people, women, and unemployment youth.

Output Report 2016:

As per the official data reported on December 31, 2016. The following are the outcome results achieved by IFAD.

  • Number of people trained in crop production practices and technologies- 2 million people out of which 52 percent were women
  • Total number of hectares of common property-resource land under improved management- 3.6 million or 36 lakh
  • Total number of kilometers of roads constructed or repaired- 16,000
  • Number of marketing groups formed or strengthened- 32,000
  • Total number of people trained in business and entrepreneurship- 1 million or 10 lakh
  • 50 percent of people receiving services from IFAD-supported projects were women

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