The European Union is a unique economic and political union of 28 European countries that together cover much of the continent. The EU and its member states account for more than half of all ODA.
Since 2006, the European Union, through the European Commission (EC), has collaborated with IFAD in financing a series of thematic and country programmes. This relatively recent partnership has grown in multiple and interesting directions, both in terms of funds invested, and the spread of programmes that benefit from that investment.
The partnership is set with the framework of the Financial and Administrative Framework Agreement (FAFA) signed by the European Commission and IFAD in September 2004. Since then the EU has provided more than EUR500 million in financing to IFAD. A relationship of trust, rigour and shared vision has evolved.
Through our partnership, we aim to test new ground in the development arena, and expand into innovative, often cutting edge areas that have the potential to change the future of development.
Over the last seven years, IFAD and the EU have joined forces in emerging areas of mutual and strategic interest: pro-poor agricultural research, remittances for development, support to farmer organization networks, public-private sector partnerships and agricultural risk management.
Working together, IFAD and EU are driving innovation in these areas, and have developed new approaches which are now recognised as critical to achieving the Sustainable Development Goals.