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New Delhi [India], May 20 (ANI): India and International Fund for Agricultural Development (IFAD) have expanded their partnership to scale investment in rural development, with a renewed focus on strengthening livelihoods, climate resilience and agricultural transformation across rural areas, according to a release by IFAD.
The move comes as a senior IFAD delegation concluded a five-day visit to India to advance a new eight-year cooperation roadmap covering rural finance, value chains and enterprise development.
During the visit, the delegation held meetings with officials from the Ministries of Finance, Agriculture and Rural Development to discuss shared priorities including strengthening farmer producer organisations, improving agricultural productivity and expanding rural entrepreneurship.
Donal Brown, Associate Vice-President, Department of Country Operations at IFAD, said, "Nearly 75 per cent of IFAD's current portfolio in India supports value chain development and entrepreneurship promotion across rural economies."
He also reiterated IFAD's commitment to strengthening community institutions and deepening convergence with State Rural Livelihood Missions and flagship rural development programmes.
The organisation said the new roadmap aims to build systems by linking finance, innovation and policy through institutions such as self-help groups, farmer producer organisations and cooperatives.
Reehana Raza, Regional Director for Asia and the Pacific at IFAD, said, "IFAD has maintained a partnership with Meghalaya for nearly two decades, and such long-term collaborations are essential for sustainable investments that support small farmers and rural communities."
The IFAD delegation also visited Meghalaya to review community-led initiatives under the Meghalaya Livelihoods and Access to Markets Project and met officials in Assam to discuss future cooperation.
India is a founding member of International Fund for Agricultural Development and has partnered with the organisation for over 48 years. IFAD currently finances 35 rural development projects in the country with a total portfolio valued at USD 4.2 billion. (ANI)