Context:
IFAD President recently said that IFAD will set up a new framework to facilitate cooperation between small agricultural producers in developing nations and businesses in Japan and elsewhere
Relevance:
GS II: International Relations
Dimensions of the Article:
- Details
- International Fund for Agriculture Development (IFAD)
- Enhanced Linkages between Private Sector and Small-Scale Producers (ELPS) Initiative
- Other Initiatives of IFAD
Details:
The Enhanced Linkages between Private Sector and Small-Scale Producers (ELPS) initiative will be set up with an aim of strengthening developing nations’ agriculture and food systems according to the IFAD President.
International Fund for Agriculture Development (IFAD):
- An international financial institution and a specialized agency of the United Nations
- Dedicated to eradicating poverty and hunger in rural areas of developing countries
- Aims to empower rural people to increase their food security, improve nutrition, and increase incomes
- Projects and programmes carried out in remote and environmentally fragile locations, including least-developed countries and small island developing States
- Only multilateral development institution exclusively focused on transforming rural economies and food systems
- Member of United Nations Development Group (UNDP)
- Established in 1977 through United Nations General Assembly Resolution
- Headquarters in Rome, Italy
- Membership includes 177 Member States, including India
- Governing Council is the highest decision-making body which meets every three years
Enhanced Linkages between Private Sector and Small-Scale Producers (ELPS) Initiative:
- IFAD initiative in cooperation with the Ministry of Agriculture, Forestry, and Fisheries of Japan
- Aims to connect small-scale food producers and marginalized farmer groups in developing countries with larger agrifood companies
- Facilitates investment, capacity building, and trade
- Small-scale producers can benefit from expertise, knowledge, and technologies of the private sector
Other Initiatives of IFAD:
- Adaptation for Smallholder Agriculture Programme (ASAP)
- Agri-Business Capital (ABC) Fund
- Pacific Islands Rural and Agriculture Stimulus Facility
- Platform for Agricultural Risk Management
- Regenerate response
-Source: Times of India
