New IFAD Programs to Help Overcome Poverty in the Third World

The International Fund for Agricultural Development (IFAD) Executive Board approved more than US $263 million in loans and grants to help rural people in Asia, Africa and Latin America overcome poverty. This will include a US$6.24 million grant to support agricultural research and development activities in rural regions of poor countries.

Angola, Malawi and Madagascar will receive US $34.27 million in loans and US $8.62 million in grants to help rural households and small scale farmers to increase their agricultural production and access to agricultural markets. Western and Central Africa will receive a total of US $77.3 million in loan and grants. Likewise, China will receive a US$30 million loan for developing approaches to reduce poverty in the Inner Mongolia Autonomous Region. The program, which will focus on selected sectors such as microfinance, organic farming and marketing, aims to reduce poverty in a sustainable and gender-equitable way. Azerbaijan and Djibouti will also receive grants and loans for the development of irrigation and farming infrastructures as well as for the establishment of a sustainable microfinance system.

Three non-Consultative Group on International Agricultural Research (CGIAR)-supported centers will also be given a US$4.18 million grant. The centers are: the United Nations Office for Project Services’ Asian Project Management Support and Regional Unit for Technical Assistance programs and Global Program to Address the Marginalization of Poor Farmers and Migrants in Ecuador, Morocco and Senegal through Market Linkages and the Promotion of Diversity.

See the press release at http://www.ifad.org/media/press/2007/52.htm