IFAD's Quest for Rural Prosperity: Unleashing Investment in Agriculture
IFAD President Alvaro Lario emphasized the need for significant investment in agriculture to reduce poverty and counter climate impacts. He underscored the importance of private capital and collaboration with governments and local communities to enhance agricultural productivity and resilience, particularly in rural areas like India.
- Country:
- India
In a bid to elevate rural economies, the International Fund for Agricultural Development (IFAD) is prioritizing significant investment in agriculture. IFAD President Alvaro Lario highlighted the effectiveness of such investments, claiming they are two to three times more efficient in alleviating poverty compared to other sectors.
Addressing global climate change concerns, Lario stressed the necessity of injecting around USD 75 billion to aid rural communities in adapting to climate challenges. He pointed out that small-scale farmers globally, especially in India, face daunting climate shocks, necessitating a focus on long-term financing and private sector collaboration to foster resilience.
Lario illuminated IFAD's enduring partnership with India, advocating for a co-created solution model involving local governments, private entities, and rural populations. This approach aims to enhance agricultural productivity, focusing on integrating private capital and sustainable practices to bolster income and opportunities for rural communities.
(With inputs from agencies.)
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