Chair,
Governors,
Colleagues,

Not only is the theme (and guest list) of this Governing Council important, we have also come together to approve a record Ninth Replenishment. The United Kingdom was pleased to pledge a contribution of US$ 82.9 million or £51.133 million - that is an increase of over 50 per cent in pounds sterling.

We do so as a result of our commitment to food security and recognition of IFAD as an institution that has a strong focus on delivering results.

We very much welcome the announcements here at the Governing Council, including from Algeria, Burkina Faso, Cote d'Ivoire, Kenya and others, demonstrating the strong sense of shared ownership for which IFAD is renowned.

We look forward to all other members joining together to ensure that IFAD can maintain its level of programming so desperately needed by the communities with which IFAD works.

But, as we have heard here, the challenges just keep growing. Agricultural production is already at risk from existing climate variability – we have only to look at examples such as the recent drought in the Horn of Africa, floods in Pakistan and a drought in Mexico - and future climate change will increase these risks, especially for smallholder farmers in developing countries.

The United Kingdom therefore welcomes IFAD's new initiative, the Adaptation for Smallholder Agriculture Programme - endorsed by us here at the Governing Council - to help poor farmers adapt and build resilience to current and future climate risks. We look forward to supporting this programme with others, and to seeing IFAD implement it, integrating climate issues across the organisation in all that it does and demonstrating the leadership needed to raise awareness and understanding for 'Feeding the world, protecting the planet.'

For an institution like IFAD, with its strong focus on results, business as usual is simply not an option. Sustainable impact will depend on how IFAD responds to climate issues. Programme investment will be inefficient if we do not adequately mainstream key cross-cutting issues of climate and gender. As Prime Minister Monti highlighted yesterday, we need an integrated approach – combined with strong global institutions.

We want to see IFAD continue to grow as a strong institution and be at the vanguard in all areas. We thank the President for his leadership and commitment to the ongoing change and reform agenda, ensuring that IFAD is driven by results – and delivering them effectively and efficiently. We support IFAD's focus on value for money and channelling as much of our resources as possible into programmes that can truly help people transform their lives, their communities, their countries.

Of course, IFAD works through partnership, including with the other Rome agencies, where - with new leadership - there is an opportunity to renew collaboration and strengthen coordination.

The President mentioned IFAD's staff in his speech yesterday. We would like to reiterate his words: they are IFAD's most valuable resource. We commend them for their commitment and tireless work as IFAD strives for ever greater effectiveness in its programmes and to provide leadership across the international system, setting an example in results, efficiency and transparency.

We look forward to continuing to support IFAD.

23 February 2012