CURRENT AFFAIRS

Detailed explanation-1: -IFAD’s operations are primarily financed by member state contributions, loan repayments, investment income and special contributions from non-member states. Other sources of financing include sovereign borrowing and, more recently being explored, concessional loans and borrowing in international capital markets.

Detailed explanation-2: -1. NABARD is a Development Bank with a mandate for providing and regulating credit for the development of agriculture, small-scale industries, cottage and village industries, handicrafts and other allied economic activities in rural areas to promote prosperity of rural areas.

Detailed explanation-3: -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-4: -At present, IFAD has 172 members Countries. India is a founder member in List-C-II and a key contributor to IFAD (http://operations.ifad.org/web/ifad/operations/country/home/tags/india). IFAD is headed by a President elected for a four-year term and is managed through two main governing bodies viz.