Madame Chair, Mr President, and Distinguished Governors,

It is for me a great honour and privilege to address the twenty-fourth Session of the Governing Council of the International Fund for Agricultural Development.

On behalf of the Republic of Korea, let me pay tribute to Mr Al-Sultan for his devotion to the agricultural and rural development of the world.

His efforts to reform and revitalise the Fund during his presidency have considerably enhanced the capacity of IFAD, as manifested in numerous programmes for developing countries.

Madame Chair and Distinguished Governors,

Over the past twenty years, IFAD has pursued structural reform to enhance the efficiency and the effectiveness of its activities.

Introduction of Country Strategic Opportunities Papers, new adoption of Drawdown Policy, and expansion of co-financed programmes should be highlighted.

Despite these efforts and contributions, however, poverty and hunger still persist in many developing countries all around the world.

In 1996, here in Rome, we set a target to reduce the number of starving people by half to 400 million by the year 2015. This goal can be attained, but only by embarking on more practical and comprehensive measures.

I believe IFAD could do more to achieve the Rome Declaration. IFAD, now getting entered into matured age of 24, must be at the forefront of these efforts.

Furthermore, it cannot be overemphasized to cooperate with other institutions, in particular with Rome-based UN agencies and financial institutions like World Bank.

Madame Chair and Distinguished Governors,

For overcoming poverty, effective domestic policies, relevant supports from advanced countries, and cooperations with international organisations are equally instrumental. These crucial momentums should be coordinated.

The Republic of Korea, once having faced the same challenges that many developing countries do now, is committed to continued support for the efforts of IFAD.

In this regard, I would like to take this opportunity to inform you that the Republic of Korea has decided to contribute 2.5 million dollars to the 5^th Replenishment.

Concluding my remarks, I address in advance my personal and my country’s congratulations to the new President who we shall elect shortly.

I am confident that he or she will successfully carry out the noble and cannot-be-abandoned mission of eradicating poverty and hunger from the world.

Thank you.