Monday, Apr 19th 2021 12:16 AM

Market Digest Nigeria


IFAD set to eliminating poverty and hunger on a global scale

At a time when hunger and poverty are increasing due to conflict, climate change and the COVID-19 pandemic, some of the world’s poorest countries are the first to pledge funds to the UN’s International Fund for Agricultural Development (IFAD) to support its work to ensure that the most vulnerable rural people can sustainably access nutritious food and decent incomes.

According to a statement, Burkina Faso, Côte d’Ivoire, and Mali have pledged to at least double their most recent contributions to IFAD, with large increases also coming from The Gambia, Sierra Leone and Uganda, all in support of IFAD’s Twelfth Replenishment – a process whereby member states commit funds to the organisation for its work in 2022-2024. Argentina, Egypt, El Salvador, Mongolia, Myanmar and Nicaragua are also amongst the first countries to pledge funds, it stated.

“With the enormous challenges we all face right now, these pledges are a testimony to the impact of IFAD’s work on the lives of rural people. “We welcome the commitment of these nations, who are themselves recipients of IFAD’s support, to prioritise rural people and invest in their most vulnerable populations,” IFAD’s Associate Vice President, who leads the mobilisation of resources for the organisation, Marie Haga said.

“These countries from the Global South have sent a strong signal that they are prepared to stand up and help others tackle the immense challenges to end poverty and hunger. Now is the time for more of IFAD’s Member States to make bold commitments. The COVID-19 crisis has shown us that no country can address these big issues alone. It is crucial to step up and work together to eradicate hunger and poverty and regenerate rural economies to build a more prosperous, peaceful and resilient world for us all,” Haga added.

Source: This Day

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