Today's Edition
ABU DHABI (WAM)
Abu Dhabi Fund for Development (ADFD) has signed an agreement with the International Fund for Agricultural Development (IFAD), the only International Financial Institution exclusively focused on rural transformation, to enhance co financing mechanisms and support the sustainability of agricultural projects.
This underscores the United Arab Emirates’ commitment to strengthening global partnerships in support of sustainable agriculture, food security, and climate resilience
The agreement was signed during the World Governments Summit in Dubai by Mohamed Saif Al Suwaidi, Director-General of ADFD, and Alvaro Lario, President of IFAD, in the presence of senior officials from both sides.
The partnership agreement aims to establish clear foundations for collaboration in the selection and financing of sovereign projects included within IFAD’s portfolio, ensuring alignment of financing efforts and coordination of evaluation and approval processes, while considering the regulatory frameworks and operational policies of both parties. This contributes to enhancing the efficiency of resource allocation and maximising the developmental impact of projects.
Commenting on the agreement Mohammed Saif Al Suwaidi said, “This agreement with the IFAD reflects our ambitious vision to build strong partnerships with leading international financial institutions, based on the integration of efforts and coordination of implementation and evaluation processes.
"It supports the development of sustainable agricultural projects that focus on strengthening agricultural value chains, improving quality of life in rural areas, and enhancing communities’ ability to adapt to various climatic and economic changes.”
Álvaro Lario stated, “Our strategic partnership with ADFD creates an advanced model for coordinated investment, maximizing our impact on rural economies. Through this institutional framework, we will mobilise resources and expertise to drive economic growth, enhance food security, and build climate resilience in rural communities.”
This collaboration represents a qualitative milestone in the partnership between ADFD and IFAD, and establishes a promising phase of joint action, capacity building, and integration of roles, in a manner that strengthens the future of communities and supports their ability to grow and progress.
