Statement by Kanayo F. Nwanze, President of the International Fund for Agricultural Development (IFAD), following his remarks to the G8 leaders gathered in L’Aquila.

10 July 2009, L’Aquila –  In the past, food security was a mere bullet point at the G8.

This time, world leaders have endorsed a concrete and wide-ranging initiative. They have recognized that food security has two dimensions: food aid for critical situations and sustained investment in agriculture to break the poverty cycle.

Investing in smallholder agriculture is the corner stone of this new push for development because it is the key to boosting economic growth and reducing poverty. Women and men who farm small plots in poor countries and struggle to feed their families will be expecting the L’Aquila declaration to translate into action.

IFAD knows first-hand the power of agriculture to transform rural societies. We look forward to a continued and even stronger partnership with the countries represented in L’Aquila to ensure this new initiative changes the lives of millions of poor rural people for the better.

Read what Mr. Nwanze told G8 and other leaders when he addressed them earlier today.

Media Advisory: MA/07/09

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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 340 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).