The 173-member states of the International Fund for Agricultural Development (IFAD) on Friday reaffirmed their shared commitment to the fund's mission by announcing a US$ 1.44 billion target of contributions directed at investing in rural people of the developing countries.
The target of IFAD's 10th replenishment will enable it to strengthen operations over a three-year period from 2016 to 2018, according to a message received in Dhaka from Rome.
During the timeframe, IFAD's plan is to expand its reach to up to 130 million rural people, which represents as much as a 31 per cent increase in those benefitting from its investments.
IFAD President Kanayo F Nwanze said the strong endorsement by the member states comes at a critical time, enabling the fund to be a key contributor towards achieving the proposed Sustainable Development Goals (SDGs) to be adopted in September 2015.
"The decisions we make today have profound implications, determining not just the shape of our future food systems but the shape of societies for decades to come," Nwanze said.
More than three-quarters of the world's poorest people live in the rural areas of developing countries and depend mainly on agriculture to earn a living.    ?UNB