Speaking today at a pledging event for the International Fund for Agricultural Development (IFAD), Minister of State for Overseas Development Aid and the Diaspora, Colm Brophy, T.D., announced €12.5 million in Irish Aid funding over the period to 2024 in support of IFAD’s work with farmers to improve food systems for rural communities in developing countries.
Minister Brophy said:
“Farmers in developing countries face unprecedented challenges in 2021. Climate change creates new uncertainties, exposing farmers to more frequent extreme weather events. COVID-19 and associated restrictions have played havoc with agricultural markets. Conflict continues to disrupt food systems and, sadly, is making too many millions hungry.
I look forward to IFAD using Irish support to build on its strong track record addressing the impact of climate change on rural communities, in ensuring that women farmers benefit as much as men, and importantly delivering sustainable food system solutions for people in developing countries.”
16 February 2021
Notes to Editors:
The International Fund for Agricultural Development is an international financial institution and specialised UN agency based in Rome. It was established in 1977 as a partnership of the member states of the Organisation for Economic Co-operation and Development (OECD), the Organisation of the Petroleum Exporting Countries (OPEC) and other developing countries.
- The Fund’s objective is the eradication of poverty and hunger in rural areas of developing countries, using agriculture as the engine for achieving this goal.
- Through loans and grants, IFAD supports innovative projects that target extremely poor and food-insecure people in rural areas.
- Ireland was one of the founding countries and IFAD’s membership has grown to include 177 countries.
- Ireland presently holds one of the alternate member seats on the 36-member Executive Board and will be resuming its seat on the Board in April 2021 for a three-year period.
- Today’s pledge of €12.5 million for IFAD’s 12th replenishment period (2022-2024) represents a 67% increase over Ireland’s previous core contribution of €7.5 million for IFAD’s 11th replenishment period (2019 -2021).
- Since 1978, IFAD has provided US$22.4 billion in grants and low-interest loans to projects that have reached 512 million people.
- IFAD is a key partner in the preparation for the 2021 UN Food Systems Summit.