IFAD and Republic of Korea sign new agreement to help poor rural communities around the world prosper

The International Fund for Agricultural Development (IFAD) and the Korea Rural Economic Institute (KREI) signed an agreement to strengthen their collaborative efforts to end hunger and poverty in developing countries around the world.

The Memorandum of Understanding was signed by IFAD President Gilbert F. Houngbo and KREI President Kim Chang-gil.

“Success in meeting the first and second Sustainable Development Goals which focus on ending poverty and hunger will depend on effective partnerships between donors, governments, financing institutions, private sector companies, farmers’ organizations and policymakers,” Houngbo said. “This MOU reflects our commitment to draw lessons from Korea’s remarkable success in rural transformation and to ensure that others benefit from that experience.”

The Republic of Korea and IFAD share a similar approach to achieving global food security – from providing support to smallholder farmers so they can access knowledge, technology, credit and markets, to helping rural communities mitigate and adapt to the effects of climate change. They also work together to enhance the effectiveness of development aid.

Under the partnership, KREI and IFAD will join forces to further develop agricultural value chains, climate-resilient agricultural practices and food security for smallholder farmers in developing countries, by mobilizing financial resources and contributing to the global policy dialogue.

Original source: IFAD
Published on 13 May 2019