Dinesh Sharma, Additional Secretary, Department of Economic Affairs, Ministry of Finance and India’s Governor to the International Fund for Agriculture Development (IFAD), Rome was unanimously elected as the Chairperson of the Governing Council of IFAD. He has been elected for a period of two years in its 39th Session held in Rome.
About IFAD
- IFAD was set-up in 1977 as the 13th Specialised Agency of the United Nations and works towards removing poverty and hunger in rural areas all over the world. India is a founder member of IFAD and a key contributor among the member countries.
- IFAD is managed by the two main governing bodies i.e. the Governing Council and the Executive Board. The Governing Council is the highest decision making body and consists of 176 member countries.
- It was established as an international financial institution in 1977 as one of the major outcomes of the 1974 World Food Conference. Seventy-five percent of the world’s poor live in rural areas in developing countries, yet only 4% of official development assistance goes to agriculture.
- IFAD’s goal is to empower poor rural women and men in developing countries to achieve higher incomes and improved food security.
- A state becomes a member of IFAD by ratifying the multilateral treaty known as the Agreement establishing the International Fund for Agricultural Development.
