BANKING AFFAIRS

Detailed explanation-1: -Its headquarters is in Rome, Italy, and it is a member of the United Nations Development Group. The current President of the IFAD is Alvaro Lario from Spain, who took over from Gilbert Houngbo in late 2022.

Detailed explanation-2: -It is a specialized United Nations agency created in 1977 engaged in providing grants and loans with low interest for allied projects. The IFAD works with rural people allowing them to enhance their food security, improve nutrition and raise their incomes. It also helps people to expand their businesses.

Detailed explanation-3: -The International Fund for Agricultural Development (IFAD) is a specialized agency of the United Nations, dedicated to eradicating poverty and hunger in developing countries. It works in remote rural areas of the world to help countries achieve the Millennium Development Goals.

Detailed explanation-4: -Established in 1977, the International Fund for Agricultural Development (IFAD) works to enable poor rural people to improve their food and nutrition security, increase their incomes and strengthen their resilience. IFAD headquarters is located in Rome, Italy.

Detailed explanation-5: -IFAD is an international financial institution and specialized United Nations agency based in Rome, the UN’s food and agriculture hub. Since 1978, we have provided US$23.2 billion in grants and low-interest loans to projects that have reached an estimated 518 million people.