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AFD and IFAD deepen partnership to boost rural development globally
Alvaro Lario, President of the International Fund for Agricultural Development (IFAD) and Rémy Rioux, Chief Executive Officer of Agence Française de Développement (AFD) today signed a new agreement establishing a framework for co-financing development projects and programs. This Co-Financing Framework Agreement, signed at the World Bank Group-IMF Spring Meetings, reaffirms their organizations' longstanding and strategic collaboration advancing a shared vision for rural transformation. The framework will also enable more coordinated and high-impact investments in small-scale farmers, rural populations and food value chains, including Small-and Medium-Size Enterprises (SMEs), in a complex global environment.
“The IFAD - AFD partnership reflects our shared ambition to scale impact in rural development, resilient food systems and food security - advancing prosperity for all. With a unified framework, we can invest more effectively and direct financing to the rural communities that need it most. I thank AFD for its continued trust and decades-long partnership,” said Alvaro Lario, President of the International Fund for Agricultural Development (IFAD) .
"IFAD and AFD share a long-standing commitment to rural development and food systems, which have already delivered concrete impacts by improving the economic performance of small-scale farmers and protecting biodiversity. Together, we are working to provide more coordinated and impactful financing for climate resilient agriculture through the Agri-PDB Platform, representing the largest coalition of Finance in Common (FiCS) with 142 PDBs from 96 countries. This IFAD-AFD agreement is a significant step towards supporting a sustainable and inclusive rural transformation in Africa and vulnerable contexts," said Rémy Rioux, Chief Executive Officer of Agence Française de Développement (AFD).
IFAD and AFD share a long-standing partnership building more inclusive, resilient and sustainable rural economies and investing in small-scale farmers at the first mile of food systems, particularly in Africa, the Middle East and fragile contexts.
The new agreement covers co-financing of investments, policy dialogue, and joint knowledge initiatives, with a strong emphasis on climate resilience, food security, youth and women’s empowerment, and private sector engagement.
The agreement also commits both institutions to maximize linkages across their portfolios, notably through integrated technical assistance, joint supervision missions, and the streamlined use of procurement, fiduciary, environmental and social standards. By drawing on the respective strengths of each organization, programmes will be able to offer a broader, more coherent portfolio of services such as capacity development and access to markets or targeted advisory support on value‑chain development.
Since the creation of IFAD, AFD has provided two sovereign loans to IFAD for an overall value of €500 million and a €50 million concessional partner loan enabling the Fund to reach millions of farmers around the world and increasing their access to markets, raising their incomes and beefing up their resilience to shocks.
In addition, AFD has provided US$136 million in loans to IFAD borrowing members states to cofinance IFAD investments and US$26 million in supplementary funding financing IFAD projects. This financing supported various activities, including strengthening agricultural and weather risk management, supporting collaboration between public development banks, building the capacities of African farmers’ organizations, enabling the effective investment of remittances in rural areas, and co-financing projects in Angola, Cuba, the Democratic Republic of Congo, The Gambia and Nigeria.
Media contact:
IFAD: Caroline Chaumont - c.chaumont@ifad.org - +39 3496620155
AFD: _AFDpresse@afd.fr - 06 45 18 54 97
About The International Fund for Agricultural Development
The International Fund for Agricultural Development (IFAD) is the only international financial institution exclusively focused on transforming rural economies. IFAD invests in rural people and their communities, building food security, shared prosperity and stability. Today, IFAD and its partners have nearly US$23 billion invested in ongoing projects that are transforming rural economies.
About Agence Française de Développement
Agence Française de Développement (AFD) helps advance France’s policy on sustainable investment and international solidarity. Through its public sector and NGO financing operations, research and publications (Éditions AFD), sustainable development training programs (AFD Group Campus) and awareness-raising activities in France, AFD finances, supports and drives the transition to a fairer, more resilient world.
Alongside our partners, we provide sustainable solutions for—and with—communities. Our teams are working on over 2,700 projects in the field, in over 115 countries, including France’s overseas departments and territories, to support projects for the climate, biodiversity, peace, gender equality and global health. Together with Proparco and Expertise France, AFD supports the commitment of France and the French people to achieve the Sustainable Development Goals (SDGs). Working by your side, toward a world in common.