Press release number: IFAD 33/04

Amman , 6 October 2004 : The International Fund for Agricultural Development (IFAD) is joining more than 500 microcredit practitioners, donor agencies, international financial institutions and academics to discuss ways to provide better financial services to the rural poor. The conference, organized by the Microcredit Summit Campaign and the Arab Gulf Programme for the United Nations Development Organizations (AGFUND), will be held in Amman, Jordan.

Microfinance can help to fight poverty in rural areas where the majority of poor people live. When rural poor people have access to credit, savings, insurance and other basic financial services they can better manage their assets and generate income.

One of IFAD's goals is to amplify the voices of the rural poor. One way in which IFAD does this is through support to the Microcredit Summit Scholarship Programme. The Programme provides grant money to microfinance institutions, making it possible for them to participate in regional Microcredit Summit conferences.

These issues and others will be examined during the Amman Summit by two IFAD experts:

• Henri Dommel, Technical Adviser, Rural Finance
  ''How donors provide loans and grants to microfinance institutions''
  Monday, 11 October, 11:45 -13:30
  Hyatt Hotel, Orchid room

• ''Microcredit and Agriculture: How to make it work''
  Tuesday, 12 October, 11:45 -13:30
  Hyatt Hotel, Iris room
  Mona Bishay, Director, Near East and North Africa Division

• ''Creating National and Regional Autonomous Microcredit Funds''
  Monday, 11 October, 14:30 -16:15
  Hyatt Hotel, Grand Ballroom

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IFAD is a specialized agency of the United Nations dedicated to combating rural poverty in the most disadvantaged regions of the world. Since 1978, IFAD has invested USD 8.2 billion in 660 rural development projects and programmes, about 250 million rural people have been supported in their efforts to overcome poverty.