Closing of the Forty-seventh Session of the Governing Council

Check against delivery

 

Mister Chairman,

Excellencies,

Distinguished Governors,

Ladies and Gentlemen,

 

In a few minutes our chair will bring this Forty-seventh session of IFAD’s Governing Council to a close.

I would like to thank our outgoing bureau, the distinguished representatives from France, Peru and Venezuela, and the incoming bureau from Algeria, Ecuador and Luxembourg.

And a special thanks and farewell to Satu Santala, our Associate Vice President for External Relations and Governance, who will be leaving IFAD at the end of this month. Her leadership here has been highly appreciated and we wish her all the very best in her new role as the next Managing Director of the Nordic Development Fund.

And I would also like to thank all of those who have had a hand in the smooth running of this meeting. Hosting the Governing Council at IFAD is a special moment for us and involves a lot of work by many, many people. Please give them a round of applause [pause to clap]

This week, we have achieved a lot. We have announced new initiatives and new partnerships. We heard about the emerging technologies that we must harness to reshape our world for the better. And we never took our eyes off our single shared goal: to lay a stronger foundation for food security in rural communities around the world.

The week started with the Eighth Global Meeting of the Farmers Forum, marking 20 years of partnership between IFAD and a group that we could not deliver impact without. It provided an important opportunity to take stock of our achievements but also our areas for improvement. We greatly appreciate the recommendations to strengthen our partnership – and we will act on them.

Distinguished governors, ladies and gentlemen,

Our Governing Council theme this year has been "Innovation for a Food Secure Future". In a world struggling with climate change, conflict, poverty and other challenges, we cannot opt for standing still. We must continually adapt and remain primed for new solutions and opportunities.

Crises seem to have multiplied at a daunting rate in recent years. But at the same time – and perhaps because of these crises - there have also been incredible advances in ideas and technology that should give us hope.

Emerging technologies are already transforming rural livelihoods and food systems. The spread of digital technologies and improved connectivity have made it easier for rural people to access market and weather information, get their products to market, and connect with peers and others along the value chain.

But we also heard a caveat: technologies have to be disseminated inclusively, and must be accessible and affordable for poor rural people. Otherwise they can exacerbate inequality and the gap between the haves and have nots.

But innovation is not just about high tech. Rural people’s own innovations – based on their unique knowledge of farming and local landscapes - are also offering solutions to climate change that are adaptable, affordable and scalable.

IFAD has been a champion of the poorest and most vulnerable for over 45 years. We pride ourselves on our connections, relationships and track record with rural people around the world – and are committed to inclusive partnerships that bring their innovations to the benefit of all. The Farmers’ Forum is testament to that.

This week, we also heard about innovations during the Gender Awards, which we were happy to establish as an event at the Governing Council for the first time. Once again, let me congratulate all the winners for the profoundly impactful work that you do to improve the lives of rural women and the health of communities and whole societies.

Ladies and Gentlemen,

Throughout our proceedings, I have been humbled and impressed by the confidence IFAD’s Members have in our institution. The support you have given to our Thirteenth Replenishment has been unprecedented. You have laid the foundation for a programme of work that will enable more than 100 million poor rural people to improve their lives. We deeply appreciate, and are honoured by, your unshakeable faith in IFAD.

IFAD is unique among International Financial Institutions in the breadth of support that it receives from Members across all lists and all stages of development. More than 65 countries have contributed $1.34 billion so far to IFAD13. This is a record-breaking step on the path to our largest replenishment ever.

Distinguished Governors,

This Governing Council has been forward-thinking and helped to sharpen IFAD’s focus on the future. At the same time, we have received constructive feedback on strengths and areas for improvement - for example from the MOPAN assessment - and the valuable interventions throughout the week from our members.

We deeply appreciate the insightful and thoughtful discussions in the Governors’ Roundtable. This underscored that IFAD must continue reflecting on we adapt our operational and financial model to meet the needs of a rapidly changing world.

You raised a number of important questions, such as how IFAD will maximize its offer to a heterogeneous group of countries. IFAD’s offer is universal, but we need to continually re-evaluate and innovate to ensure we have the instruments and the solutions to offer all our Member States, so we can continue to invest in poor rural people everywhere.

You also asked how we will exploit frontier technologies in an inclusive way, and deepen our work with the private sector. We noted your broad support for IFAD’s approaches but also that we could do much more in some areas, such as ensuring that climate finance reaches rural areas.

I am glad that the IFAD13 resolution approved yesterday is already moving us forward in this regard.

Let me thank you once again for your continued trust and support. I am humbled and honoured to lead an organization that you place so much faith in. Our shared mission has never been more necessary and we commit to meeting this moment with you all, together.

Thank you.