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