Annual report 2003 - part 2

 IFAD works with rural poor people, governments, financial and development institutions, non-governmental organizations, the private sector and other partners to design and implement projects and programmes that are innovative, cost-effective and replicable. Most of IFAD’s resources are provided to low-income countries on highly concessional terms, repayable over 40 years, including a grace period of ten years and a yearly service charge of 0.75 per cent. Since its founding, IFAD has financed 653 projects and programmes in 115 countries and territories for a total commitment of approximately USD 8.1 billion.