By J Nastranis
NEW YORK (ACP-IDN) – The International Fund for Agricultural Development (IFAD), an international financial institution and specialized United Nations agency based in Rome, and the African, Caribbean and Pacific (ACP) Group of States with Secretariat in Brussels plan to intensify their collaboration in several areas of common interest, such as joint financing, research, studies, and policy dialogue.
With this in view, ACP Secretary-General Dr. Patrick I. Gomes and IFAD President Gilbert Houngbo have signed a letter of intent on September 25 on the margins of the 73rd Session of UN General Assembly (UNGA73).
In the letter, they declare their intention to intensify collaboration between the two institutions and support the implementation of development goals in the Member States that are common to both.
IFAD is already partnering with governments in ACP Group member states, assisting in the design and financing of rural and agricultural development programmes. The Fund’s loan and grant portfolio supports 106 ongoing projects in ACP countries, including 93 in Africa.
In 2018, 18 new projects are expected to be launched, for a total amount of USD 466 million in loans. IFAD also supports innovation by financing specific projects, and is engaged in policy dialogue on countries’ agricultural and rural development issues.
Following the signing ceremony, IFAD President Houngbo said, “it is crucial that our synergies be strengthened, as we seek to ramp up efforts to eliminate hunger and poverty, while offering a sustainable future and an alternative to migration, to rural youth.”
Secretary-General Gomes declared that “today marks an important day for the ACP Group, as we sign this letter of intent with the IFAD, aimed at supporting women and youth, in particular, along the agricultural value chains. We believe that this collaboration between the two institutions will contribute to the goal of poverty reduction and promote sustainable and inclusive growth in ACP economies.”
The agreement will enable the two institutions to strengthen their synergies and complementarity, at a time when current global challenges, including the fight against hunger, migration, climate change, youth employment, and nutrition require a coordinated and heightened response. [IDN-InDepthNews – 27 September 2018]
Photo (left to right): ACP Group Secretary-General Dr Gomes and IFAD President Houngbo exchange letters of intent to strengthen cooperation. Credit: ACP
IDN is flagship agency of the International Press Syndicate.
facebook.com/IDN.GoingDeeper – twitter.com/InDepthNews
facebook.com/IDN.GoingDeeper – twitter.com/InDepthNews
Tags: ACP Group of States, UN Insider