International Fund for Agricultural Development (IFAD)
Part of: Prelims and GS – III – Economy
Context: Recently, IFAD (International Fund for Agricultural Development) has committed to focus 30% of its climate finance to support nature-based solutions in rural small-scale agriculture by 2030.
About IFAD:
It was created in 1977, which is the outcome of the World Food Conference of 1974.
IFAD is an international financial institution and specialized UN agency working in the field of poverty eradication in the rural areas of developing countries providing grants and loans with low interest for allied projects.
Headquarters: Rome, Italy
It brings out the Rural Development Reportevery year.
It has 177 member countries. India is also a member country.
Objectives:
To increase the productive capacity of poor people.
To increase benefits for them from market participation.
To strengthen the environmental sustainability & climate resilience of their economic activities.
It works with marginalized and vulnerable groups such as farmers with small holdings, foresters, Pastoralists, Fishermen and small scale entrepreneurs by giving them disaster preparedness, access to weather information, technology transfer and social learning.
