Release number IFAD/51/07

Rome – 27 November 2007 - IFAD and Spain today signed a partnership agreement to strengthen their ability to combat rural poverty in developing countries. The move underscores IFAD and Spain’s shared understanding that the best way to eliminate poverty is to empower poor people by expanding their rights, opportunities and abilities so that they can lead their own development. 

The agreement was signed in Rome by Lennart Båge, President of IFAD, and Luis Calvo Merino, Spain’s Ambassador to Rome.

Spain is a supporter of integrated rural development, a valued member of IFAD and an important member of the international development community.

“IFAD shares many development priorities with Spain,” said Båge. “By strengthening our relationship, we will be able to work even more effectively together to empower poor rural people to overcome poverty.”

The new agreement has a six-year term. IFAD and Spain will meet every two years to ensure their work remains focused on their shared development goals, as outlined in IFAD’s Strategic Framework and Spain’s Master Plan for Development Cooperation. The partners are both committed to:

• good governance, public participation and strengthening local community and small farmers’ organizations
• developing and promoting rural finance systems and small rural enterprises
• combating desertification and land degradation
• gender equity and the rights of indigenous peoples

Spain, which has long been a leader in development efforts in Latin America, has recently expanded its geographic focus to include Northern and Western Africa, where IFAD also funds programmes and projects.

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IFAD is an international financial institution and a specialized United Nations agency dedicated to eradicating poverty and hunger in rural areas of developing countries. Through low-interest loans and grants, IFAD develops and finances programmes and projects that enable poor rural people to overcome poverty themselves. There are 191 ongoing IFAD-supported rural poverty eradication programmes and projects, worth a total of US$6.6 billion. IFAD has invested US$3.1 billion, with cofinancing provided by partners including governments, project participants, multilateral and bilateral donors. These initiatives will help about 82 million poor rural women and men to achieve better lives for themselves and their families. Since starting operations in 1978, IFAD has invested US$9.8 billion in 751 programmes and projects that have reached more than 310 million poor rural women and men. Governments and other financing sources in recipient countries, including project participants, contributed US$9.2 billion, and multilateral, bilateral and other donors provided another US$7.2 billion in cofinancing.