FARM Initiative – Pillar 3 Implementation AFD-IFAD joint press release

Yaoundé, 26 July 2022 - During a visit to Cameroon, Emmanuel Macron, President of the French Republic, Gilbert F. Houngbo, President of the International Fund for Agricultural Development (IFAD) and Rémy Rioux, Director General of Agence Française de Développement (AFD) reaffirmed their shared vision for agricultural development in response to the challenge of food security.

With Alamine Ousmane Mey, Minister of Economy, Planning and Land Use Management, in attendance, IFAD and the AFD Group signed a memorandum of understanding to operationalize in Cameroon the framework agreement signed by the two institutions in July 2021.

The partnership’s aims are threefold: pursuing strategic dialogue, developing operational synergies and identifying opportunities for coordinated financing.

Working closely with the Cameroonian authorities, the AFD Group and IFAD confirmed their common strategy, focusing in particular on agricultural producers’ technical and management capacities, family farm productivity, sustainable farming practices, producer access to financing and investment in the sector that is both sustainable and responsible.

The AFD Group and IFAD undertake to maximize synergies among the programmes they support by strengthening human capital – from occupational training to employment and incubation support, and advisory assistance in priority value chains – to offer a complementary range of services to producers.

Finally, in terms of opportunities for complementary and coordinated financing, and as a first tangible joint contribution to the Food and Agriculture Resilience Mission (FARM), AFD expressed interest in engaging in a joint dialogue with the Cameroonian authorities and IFAD around funding of five million euros for the second phase of the Agricultural Development Commodity Value Chain Support Project (PADFA II). In addition, to support the development of agroenterprises creating sales opportunities for local production, the two institutions will consider mobilizing the appropriate de-risking tools.

The partnership between IFAD and the AFD Group supports the implementation of FARM’s third pillar, strengthening local farm production in vulnerable countries to mitigate food insecurity. The objective of this pillar is to enhance food system performance and resilience over the medium and long term, by building the capacity of smallholders to withstand economic and other shocks while continuing to produce, sell and look after their families.

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Press release n^o: IFAD/43/2022

About the International Fund for Agricultural Development

The International Fund for Agricultural Development (IFAD) is an international financial institution and a United Nations specialized agency. Based in Rome – the United Nations food and agriculture hub – IFAD invests in rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since 1978, IFAD has provided more than US$23.2 billion in grants and low-interest loans to fund projects in developing countries. Last year, IFAD-supported projects reached an estimated 130 million people. 

About Agence française de développement

Agence française de développement (AFD) implements France’s policy in the areas of development and international solidarity. Our actions include financing for the public sector and NGOs, research and publications (Éditions AFD), training on sustainable development (Campus AFD) and awareness-raising in France. AFD funds, supports and accelerates the transition to a fairer and more sustainable world.

Together with our partners we build shared solutions with and for the peoples of the South. Focusing on climate, biodiversity, peace, gender equality, education and health, our teams carry out more than 4,000 projects in France’s overseas departments and territories and another 115 countries, and in territories in crisis. In this way we contribute to the commitment of France and French people to the Sustainable Development Goals (SDGs), for a World in Common.

More information at www.afd.fr