Friday, May 8, 2015
IFAD to showcase the importance of investing in rural people at the G20 Agricultural Ministers Meeting
The International Fund for Agricultural Development (IFAD) will join the world’s leaders of agriculture today in Istanbul, Turkey at the meeting of the G20 Agriculture Ministers to advocate on behalf of the 76 per cent of the world poorest people who reside in rural areas and depend on agriculture for their livelihoods.
Josefina Stubbs, Associate Vice-President of IFAD, who will represent the Fund at the meeting, will take critical messages to the ministers about the importance of investing in rural people in developing countries.
“IFAD believes it is essential to bring millions of smallholder farmers and small-scale entrepreneurs, women and men, into the financial mainstream, if we want them to become capable investors who can drive sustainable and inclusive agriculture and food systems,” Stubbs said prior to her departure. “IFAD is proud to be on the frontline of this area, through our support to rural finance institutions across the developing world.”
During 2015, Turkey holds the presidency of the G20, which consists of the largest economies in the world. As a forum for supporting international economic cooperation and decision-making, the G20 is made up of 19 countries plus the European Union that represent about 85 per cent of global GDP and two-thirds of the world's population.
Late last year, G20 leaders released the Food Security and Nutrition Framework, which aims to strengthen inclusive economic growth by increasing investment in food systems, raise productivity to expand food supply, and increase incomes and quality jobs. At the second ever ministerial meeting in Turkey, the framework will be a focus in terms of how to encourage high quality, responsible investment in the rural sector and in agriculture. This will also be a key question on the agenda of the upcoming international conference on Financing for Development in Addis Ababa, Ethiopia where IFAD will showcase best practices and tools.
“The G20 can truly play a catalytic role and create a more enabling environment for increased investment in agriculture and food systems in all countries,” Stubbs added. “And IFAD will continue to provide its expertise to help realize these objectives.”
Press release No.: IFAD/32/2015
The International Fund for Agricultural Development (IFAD) invests in rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since 1978, we have provided over US$16.6 billion in grants and low-interest loans to projects that have reached more than 445 million people. IFAD is an international financial institution and a specialized United Nations agency based in Rome – the UN’s food and agriculture hub.