Members task IFAD on new funding sources

Aside the new funds for the Ninth Replenishment Funds (IFAD9), Member States of the International Food for Agricultural Development (IFAD) have urged the organisation to find new sources of funding.

The new sources, according to the communiqué from the IFAD9 is expected to effectively share the development burden more broadly, including raising investment from non-members and others.

At the meeting conducted for the Consultations on the Ninth Replenishment of the Fund's resources (IFAD) in Rome, member states also recognized IFAD's commitments and works.

They further commended its work in delivering value for money and making unprecedented efforts to overcome the effects of widespread budgetary difficulties to ensure the funds has sufficient resources for its purpose to poor rural people worldwide.

NaijaAgroNet gathered that though some countries donated more than the amounts contributed at previous IFAD replenishments, IFAD9 is the highest percentage increase of contributions of any international financial institution in the current round of replenishment as some countries included in the United Nations (UN) list of ‘least developed countries’ has not been participating in previous replenishments has also announced their contributions.

The Governing Council of IFAD will receive the Report and Resolution of the Consultation for adoption in February 2012.

'Yinka Awosanya

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