Yukiko Omura takes over as Vice President of UN's rural poverty agency, IFAD

Calls for investment in agricultural development to tackle poverty

Rome, 1 February 2010 - Yukiko Omura, a Japanese national and former Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group joined today as Vice-President of the International Fund for Agricultural Development (IFAD), the United Nations agency devoted to rural poverty and financing of agricultural and rural development.

Omura brings to the job over 25 years of experience in international finance and development at a time when the private sector is becoming an increasingly crucial ally to drive economic growth and to reduce poverty in rural areas of developing countries as reconfirmed in Davos during the recently held World Economic Forum.

“From my previous work in emerging markets, I am convinced that profitable, developmentally sound investment opportunities abound in developing countries,” Omura stated. “The key to converting these opportunities into right investments, jobs and incomes for the poor will be for all of us – investors, banks, host countries, and development institutions – to work together. Everyone benefits from investments that support sustainable development.”

“I am coming to IFAD at a critical time for international development when the importance of agriculture for economic growth is back on the agenda of world leaders,” Omura said. “Agriculture is where two of the most pressing issues of our time – climate change and food security – intersect. IFAD, as one of the largest sources of development financing for agriculture and rural development has a key role to play in bringing sustainable solutions to these issues which are critical to tackle poverty” she added.

Press release No.: IFAD/03/2010

The International Fund for Agricultural Development (IFAD) works with poor rural people to enable them to grow and sell more food, increase their incomes and determine the direction of their own lives. Since 1978, IFAD has invested over US$11 billion in grants and low-interest loans to developing countries, empowering some 350 million people to break out of poverty. IFAD is an international financial institution and a specialized UN agency based in Rome – the UN’s food and agricultural hub. It is a unique partnership of 165 members from the Organization of the Petroleum Exporting Countries (OPEC), other developing countries and the Organisation for Economic Co-operation and Development (OECD).