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International Fund for Agriculture Development (IFAD)

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:

  1. Details
  2. International Fund for Agriculture Development (IFAD)
  3. Enhanced Linkages between Private Sector and Small-Scale Producers (ELPS) Initiative
  4. 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


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