The world's newest international aid agency to help poorer countries, has opened its headquarters in the Italian capital, Rome.
The world's newest international aid agency to help poorer countries, has opened its headquarters in the Italian capital, Rome. The agency, the International Fund for Agricultural Development (IFAD), had its inaugural meeting in Rome last December, and on Tuesday (28 March) the new headquarters on the Via del Serafico were officially opened by its President, Abdelmuhsin Al-Sudeary of Saudi Arabia.
SYNOPSIS: The International Fund for Agricultural Development is the 13th specialised agency to be created by the United Nations. Its creation was one of the major recommendations of the 1974 World Food Conference.
The basic aims of IFAD are to finance agricultural development projects, primarily for food production in developing countries. The major target for financial assistance is the small farmer. In his opening speech Mr. Al-Sudeary said the fund would soon be operational.
The initial resources available to the Fund are slightly more than a billion Dollars. The biggest single donor is the United States with 200 million Dollars. Next is Iran with 124 million.