International Fund for Agriculture Development (IFAD)

Why in News?

• The Enhanced Linkages between Private Sector and Small-Scale Producers (ELPS) initiative will be set up with an aim of strengthening developing nations’ agriculture and food systems according to the IFAD President.

About International Fund for Agriculture Development (IFAD):

• It is an international financial institution and a specialized agency of the United Nations dedicated to eradicating poverty and hunger in rural areas of developing countries.
• IFAD seeks to empower rural people to increase their food security, improve the nutrition of their families and increase their incomes through funding of grants and low-interest loans to several projects.
• Its projects and programmes are carried out in remote and environmentally fragile locations, including least-developed countries and small island developing States.
• IFAD is the only multilateral development institution that focuses exclusively on transforming rural economies and food systems.
• It is a member of the United Nations Development Group (UNDP).
• It was established as an international financial institution in 1977 through United Nations General Assembly Resolution.
• Headquarters: Rome, Italy.
• Membership: Currently, IFAD has 177 Member States, including India.
• The highest decision-making body is the Governing Council which meets every three years.

• Enhanced Linkages between Private Sector and Small-Scale Producers (ELPS) Initiative:

  • It is an initiative By IFAD in cooperation with the Ministry of Agriculture, Forestry and Fisheries of Japan.
  • It aims to connect small-scale food producers and marginalised farmer groups in developing countries with larger agrifood companies to facilitate investment, capacity building and trade.
  • Small-scale producers can greatly benefit from the expertise, knowledge, and technologies of the private sector.

  Other Initiatives of IFAD:

  • Adaptation for Smallholder Agriculture Programme (ASAP).
  • Agri-Business Capital (ABC) Fund.
  • Pacific Islands Rural and Agriculture Stimulus Facility.
  • Platform for Agricultural Risk Management.