The chairman of the International Fund for Agricultural Development, Mr. abdelmuhsin Al-Sudeary, has been in?
The chairman of the International Fund for Agricultural Development, Mr. abdelmuhsin Al-Sudeary, has been in India completing details for an eighty-five million dollar loan to build the Rajasthan canal project. Mr. Sudeary visited the site, ten had talks in Delhi with India's Prime Minister, Mr Moraji Desai.
SYNOPSIS: Mr Sudeary was in Jaipur to visit the site on Wednesday (7 March). The fund called IFAD, was established in 1976 to finance agricultural development projects, primarily for food production, in developing countries. Its target of one billion dollars in contributions was reached in December 1976.
On Thursday (8 March) Mr Sudeary had talks at the Ministry of Finance in Delhi with India's Deputy Prime Minister and Finance Minister, Mr Charan Singh. The idea behind the Rajasthan canal scheme is to convert large tracts of India's desert terrain in that region into fertile, crop-growing land. IFAD finance in projects it chooses to fund.
After his first discussions, Mr Sudeary went with Mr Singh to Parliament House for talks with Prime Minister Desai and India's Economics Affairs Secretary, Mr Manmohan Singh. Among its stated aims, IFAD says it gives priority to the poorest countries that have a food deficit and an urgent need to raise the nutritional level of their people. India is classified among the neediest countries.