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Globally rising demand for food
KfW contributes significantly to food security and rural poverty reduction
Frankfurt am Main (ots) -
- Innovative financing agreement amounting to EUR 400 million for the International Fund for Agricultural Development (IFAD) - Supporting small farmers, financing food production, agricultural development and rural development
On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW Development Bank has signed a framework agreement with the International Fund for Agricultural Development (IFAD) totaling EUR 400 million and - as part of the agreement - a first promotional loan over EUR 100 million. The objective of IFAD, an international financial institution and a specialized United Nations agency headquartered in Rome, is to improve food security and rural livelihoods in developing countries. IFAD will use the KfW funds for rural investment in middle income countries; they will facilitate an increase in agricultural production, especially through better production technology in crop farming and livestock husbandry as well as modern, water-saving irrigation systems. The funds will further support small farmers in marketing their produce and securing land use rights; they shall also serve to establish rural financing systems. The.KfW funds will assist IFAD's work to support poor rural women and men reach food security worldwide.
"The globally rising demand for food will double in the next 50 years. This is why a massive expansion in agricultural investments is required. Our promotional loan supports IFAD's continued development work especially in rural regions of the emerging countries, where poverty is prevalent. At the same time, grants and concessional funds can be concentrated on the poorest countries, particularly in Africa. IFAD was created to invest in, work with and empower rural people, the majority of whom depend on agriculture for their livelihoods. Therefore small farmers are always in the focus of both IFAD's and KfW's agricultural development engagements, with the aim of securing food and reducing poverty", said Dr Norbert Kloppenburg, Member of the Executive Board of KfW Group.
"The world's 500 million small farms provide food and livelihoods for billions of people, accounting for up to 80 per cent of food produced in sub-Saharan Africa and parts of Asia," said IFAD President Kanayo F. Nwanze. "Small farms are not just here to stay, their numbers are increasing and demand for the kind of projects IFAD supports is also growing. Our partnership with KfW means that we can leverage additional resources for our continued innovative approaches in remote areas where few others venture. Partnerships like this one are essential to transforming rural areas into vibrant places where women and men can thrive.
Further information on KfW Development Bank can be found at: www.kfw-entwicklungsbank.de.
Find out more about IFAD:
IFAD invests in rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since 1978, we have provided about US$15.8 billion in grants and low-interest loans to projects that have reached some 430 million people. IFAD is an international financial institution and a specialized United Nations agency based in Rome - the UN's food and agriculture hub. www.ifad.org