Statement by Gilbert F. Houngbo, President of IFAD, Closing session of the Forty-Fifth Session of the Governing Council

Mister Chairman,

Excellencies,

Distinguished Governors,

Ladies and Gentlemen,

 

I would like to thank Mr Wempi Saputra, our out-going Chairperson, for his valuable work, and welcome His Excellency Oscar Miguel Graham Yamahuchi, Minister of Finance of Peru, as the new chairperson.

I would also like to thank our outgoing vice-chairpersons, Her Excellency Clémentine Ananga Messina, the Governor for the Republic of Cameroon, and His Excellency Thomas Kelly, the Governor for the United Kingdom of Great Britain and Northern Ireland; and welcome the new Vice-chairs Mr William Roos, Governor for the French Republic, and Her Excellency Doña Haifa Aissami Madah, Governor for the Bolivarian Republic of Venezuela.

Ladies and gentlemen,

Over the last two days we have had focused discussions on some key issues that are pressing ones for IFAD, our Members and the world. We are still battling a global pandemic and its economic knock-on effects, and climate change continues to be a global challenge that most severely impacts the poorest and most marginalized.

Here I would like to recall the words of Daniele Franco, Minister for Economy and Finance of Italy, who said that “Climate change, environmental degradation and biodiversity loss represent an immediate threat for natural resources, as well as for the lives and livelihoods of rural people.”

As showcased in the first pre-GC informal webinars, we can only meet these challenges together, with stronger partnerships and decisive action.

Yesterday, the event on the Sahel Joint Programme showed us how joint regional operations and financing can be used to bring together key players to address difficult and interlinked challenges to strengthen the livelihoods of small-scale agricultural producers, particularly women and youth.

The event on the Private Sector Finance Programme was an opportunity for an in-depth dialogue with representatives from Member States and from the private sector towards catalyzing investment in underserved areas through support to small-scale producers and rural SMEs.

I want to thank Queen Maxima of the Netherlands for her inspiring speech, and would echo her call to action for the private sector to help address the $170B annual gap in financing the agriculture sector. In the example she drew upon in Cote d'Ivoire, it was clear how critical it is to create innovative solutions to climate finance access, particularly for women's empowerment.

Distinguished governors,

As we kickstart the implementation of IFAD12, I would like to express my appreciation to our Governors for approving allocations to countries based on the PBAs and BRAM. I assure you that IFAD will leverage on this new financial structure to make finance available to the countries most in need.

Our growing partnerships with the private sector will allow us to continue to support our partner governments in developing inclusive food systems while supporting the most vulnerable population to adapt to the impacts of climate change, which recalls the words of Iván Duque Márquez, President of Colombia, who stressed the importance of “making good use of the opportunities offered by innovation and financing to achieve an inclusive and climate-resilient recovery in which small producers have, or will have, a leading role.”

We will be focusing our efforts where it brings more impact, where support is needed the most. In this regard, we have ensured that between 25 per cent and 30 per cent of core resources were allocated to countries with fragile situations, 55 per cent to Africa and 50 per cent to sub-Saharan Africa.

Indeed, His Excellency Aiyaz Sayed-Khaiyum, Acting Prime Minister of Fiji, reminded us that “Our rural communities are the front line of the front line,” and that “eradicating rural poverty demands a radically new approach to building rural resilience”.

Thank you to Jeffrey Sachs who reminded us on the need to raise awareness on the world global challenges, the existing solutions to address them, and the critical need for adequate financing to address the needs of poorest countries.

This is what we will do in 2022. IFAD will position itself at the forefront of global initiatives such as COP27, Finance in Common Summit and the G20 to champion the cause of the rural poor and smallholder farmers.

In closing, I would like to recall the words of President (of Madagascar) Rajoelina, who said “Let us pool our strengths, our potential and our know-how so that our countries reach food self-sufficiency and that our young people have jobs.” This is the commitment that is the essence of what IFAD stands for.

I also would like to express my great appreciation to Norway for its decision to increase "significantly" its contribution to IFAD12.

Lastly, I would also like to thank IFAD workforce for their incredible commitment to this institution and its mandate, as well as interpreters and the organizational crew for their hard work in making this session successful.

Thank you.