It is with pleasure that I can announce that Australia has taken a policy decision to strongly consider re-joining IFAD to strengthen global food security.  I should note that the process requires public and Parliamentary consultation and legislation.

IFAD is dedicated to eradicating rural poverty in developing countries. Seventy-five per cent of the world's poorest people - 1.4 billion men, women and children - live in rural areas and depend on agriculture and related activities for their livelihoods.

Australia has focussed strongly on both bilateral and global efforts to improve food security. It is integral to our efforts to support sustainable economic development, itself one of the Aid program’s five strategic goals.

Australia’s decision to rejoin IFAD, subject to normal treaty processes, has been prompted by recent reform efforts. As President Nwanze has already remarked, IFAD is now considered by donors and developing countries to be an increasingly effective partner. This was confirmed by a 2011 AusAID review which recognised IFAD’s work with smallholder farmers, who are disproportionately represented among the world’s most vulnerable.
  
IFAD initiatives support more than 36 million poor people around the world to secure food supplies by increasing productivity, access to markets and gaining microfinance.

A public consultation process on the proposal for Australia to rejoin IFAD has already commenced. I will not take up Councils time going through our treaties process but am happy to discuss it with interested members.

Australia, subject to its treaties processes, now looks forward to greater interaction with IFAD. 

22 February 2012