" class="no-js "lang="en-US"> IFAD: Spain Can Become a World Leader in Fight Against Hunger
Tuesday, March 21, 2023
City Week 2023

Alvaro Lario, President of IFAD: “Spain Can Become a World Leader in the Fight Against Hunger and Poverty at This Crucial Time”

In his first official visit to Madrid, the Spanish president of the UN’s International Fund for Agricultural Development (IFAD), Alvaro Lario, highlighted Spain‘s potential to “become a world leader in the fight against hunger and poverty at this crucial time,” when high food prices are “putting millions of people on the ropes” and threatening global stability.

“Although tragic, the multiple crises we are experiencing are also a great opportunity to seek structural and durable solutions,” said the IFAD President, referring to the need to prioritise medium and long-term strategic support to rural areas in low- and middle-income countries. Eighty per cent of the world‘s extreme poverty is concentrated in rural areas.

Lario praised Spain‘s commitment to international cooperation and multilateralism, especially through climate action. The new Spanish cooperation law, which makes it mandatory for 0.7% of the Gross National Income to be directed to Official Development Assistance by 2030, represents a new opportunity to expand cooperation between Spain and the only specialised UN agency dedicated to rural development, especially in their joint action to help the most vulnerable adapt to climate change and prosper in their places of origin.

The current food security crisis is one of our greatest concerns, in addition to the energy and cereal supply crisis derived from the pandemic and the conflict in Ukraine. These crises require sustaining and promoting food security efforts, which is core to IFAD‘s programmes. To tackle these crises, Spain has contributed 5 million euros in 2023 within the framework of the 12th IFAD Replenishment, and we have actively participated in the consultation process,” said José Manuel Albares Bueno, Minister of Foreign Affairs, European Union and Cooperation, after his meeting with the President of IFAD in Madrid.

Spain is a strategic partner for IFAD because of its ability to build bridges around the world due to its geographic location, and thanks to its cultural, historical and linguistic ties,” said Lario.

The IFAD President‘s visit is part of the IFAD13 triennial replenishment campaign. For every euro IFAD receives from member states, the Fund is able to generate up to six euros of investment, thanks to its ability to attract co-financing.

Member state contributions form the basis of IFAD‘s programme of highly concessional loans and grants to low- and middle-income countries. The main objective of the programme is to empower small-scale farmers, vulnerable communities and marginalised groups to be the architects of their own destiny.

According to the Rome-based UN Fund’s impact studies, its investments are the most effective for rural development; investments in agriculture are estimated to generate two to three times more economic growth than in other sectors. Between 2019 and 2021, IFAD‘s investments (US$8.1 billion), improved the incomes of 77.4 million people by at least 10 per cent.

According to IFAD‘s presidentthis level of efficiency and impact is not enough when compared to the 828 million people suffering from hunger in the world. “We need to take our work to a much larger scale, and we rely on Spain‘s commitment and collaboration to do so,” Lario insisted.


People In This Post

Companies In This Post

  1. TravelInsurance.com Named One of the Best Travel Insurance Companies of 2023 by Money.com Read more
  2. Gamma.io Unveils Trustless Bitcoin Ordinals Marketplace Read more
  3. Vertafore names Gareth Walter as Chief Revenue Officer Read more
  4. Terry Walby – OpenDialog AI – Insurtech Insights Europe 2023 Read more
  5. Pacific Northwest Mission Critical Infrastructure Fortified with MOD Mission Critical Read more
Fintech Nexus USA 2023