IFAD Governing Council at 10th anniversary session launches third replenishment.

• Position: International Fund for Agricultural Development

To help mankind's poorest billion... IFAD Governing Council at 10th anniversary session launches third replenishment

The problems and progress made in helping the world's small farmers and rural poor--mankind's poorest billion--were reviewed at the eleventh session of the Governing Council of the International Fund for Agricultural Development (IFAD) held from 26 to 29 January in Rome. The Agency aims to help these people grow better crops, reduce hunger, improve nutrition and increase living standards.

The 142-member IFAD Governing Council focused on the Fund's first decade of operations and launched the process of replenishing for the third time IFAD resources so it can continue to improve the lot of the rural poor in developing countries.

Founded as a result of the l974 World Food Conference, IFAD began operations in l978. It is the first international financial institution created exclusively for the benefit of the rural poor.

So far, about ll0 million people--l8.3 million rural families--have benefited from IFAD projects.

Achievements

Despite fewer resources to draw upon than in its early years, the Fund has recently been executing more projects. IFAD's newer projects have attracted more co-financing by other donors--international financial insititutions and indiviual countries--which pool their resources with those of the Fund. IFAD's own financial share in each project has declined. Governments of countries where projects are located now contribute more to financing.

Since l978, IFAD has helped to channel $10 billion to 221 projects in 89 developing countries. The total includes some $2.5 billion provided in IFAD loans and grants, multiplied by 3-to-1 matching of funds from co-financiers ($3.4 billion) and from Governments of countries whose people...