Eliminating poverty and hunger high on global agenda as countries pledge funds to IFAD

News provided by

International Fund for Agricultural Development

Dec 08, 2020, 07:45 ET

ROME, Dec. 8, 2020 /PRNewswire/ -- At a time when hunger and poverty are increasing due to conflict, climate change and the COVID-19 pandemic, some of the world's poorest countries are the first to pledge funds to the UN's International Fund for Agricultural Development (IFAD) to support its work to ensure that the most vulnerable rural people can sustainably access nutritious food and decent incomes.

Burkina Faso, Côte d'Ivoire, and Mali have pledged to at least double their most recent contributions to IFAD, with large increases also coming from The Gambia, Sierra Leone and Uganda, all in support of IFAD's Twelfth Replenishment - a process whereby Member States commit funds to the organization for its work in 2022-2024. Argentina, Egypt, El Salvador, Mongolia, Myanmar and Nicaragua are also amongst the first countries to pledge funds.

"With the enormous challenges we all face right now, these pledges are a testimony to the impact of IFAD's work on the lives of rural people. We welcome the commitment of these nations, who are themselves recipients of IFAD's support, to prioritize rural people and invest in their most vulnerable populations," said Marie Haga, IFAD's Associate Vice President, who leads the mobilization of resources for the organisation.

"These countries from the Global South have sent a strong signal that they are prepared to stand up and help others tackle the immense challenges to end poverty and hunger. Now is the time for more of IFAD's Member States to make bold commitments. The COVID-19 crisis has shown us that no country can address these big issues alone. It is crucial to step up and work together to eradicate hunger and poverty and regenerate rural economies to build a more prosperous, peaceful and resilient world for us all," Haga added.

On 11 December, IFAD will host its first formal pledging session and it is calling on Member States to significantly increase their contributions to help achieve the goal of a world free from poverty and hunger by 2030.

Research shows that economic growth in agriculture is two to three times more effective at reducing poverty than growth in other sectors. Investing in rural areas promotes prosperity, food security and resilience to weather changes, natural disasters, price hikes and other shocks.

Contacts:

Antonia Paradela
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Mobile: +34 605398109

SOURCE International Fund for Agricultural Development