To ensure adequate funding for IFAD’s global operations, its Governing Council periodically invites member states to contribute to replenishment of the organization’s resources. The most recent replenishment – IFAD’s ninth since its founding in 1978 – is now in effect, thanks to commitment and fast action on the part of the Fund’s member states.

The February 2012 session of the Governing Council set an ambitious replenishment target of US$1.5 billion in resources for 2013 through 2015. Pledges from member states reached approximately US$1.4 billion, or 94 per cent of the target.

The replenishment is effective as soon as IFAD has received committed contributions in an aggregate amount equivalent to at least half of the funds pledged by member states. Contributions toward the ninth replenishment have now passed the halfway mark. President Kanayo F. Nwanze said it was the first time IFAD had ever reached that threshold so quickly.

Once again, member states have followed through on their pledges to support IFAD’s ongoing programme of loans and grants. And by making resources available in an expedited manner, they have sent a signal of confidence in IFAD’s ability to achieve its mission: enabling millions of poor rural women and men in developing countries to overcome poverty and achieve long-term food and nutrition security.