IFAD Governing Council to elect President for next four years

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IFAD Governing Council to elect President for next four years

Rome, 24 September 2012 – The 36th session of the Governing Council of the International Fund for Agricultural Development (IFAD) will elect a President to lead the organization for the next four years.

The Governing Council is the Fund's principle governing body with full decision-making powers. It consists of all of IFAD's Member States and meets annually. The election will take place on 13 February 2013 at IFAD's Rome headquarters. Candidates for the presidency of IFAD are nominated by Member States of the Fund. The closing date for nominations is 15 December 2012.

IFAD's goal is to enable poor rural people to improve their food and nutrition security, increase their incomes and strengthen their resilience. Working with poor rural women and men, governments, donors, non-governmental organizations, UN agencies and many other partners, IFAD focuses on country-specific solutions to increase access for rural people to financial services, markets, technology, land and other natural resources. It works in collaboration with its Member States and multilateral and bilateral partners in the global effort to achieve food and nutrition security, and sustainable agriculture.

IFAD, like other international financial institutions, mobilizes core resources through periodic replenishments from its Member States and additional funding from other sources. To date, almost US$14 billion has been invested through IFAD supported programmes and projects, which have in-turn attracted $21 billion in cofinancing and funding from domestic sources. At the end of 2011, IFAD's portfolio consisted of 240 on-going programmes and projects in 94 countries and territories, with a total IFAD financing of $4.6 billion.

The President of IFAD, under the direction of IFAD's governing bodies, is responsible for managing the Fund and is the chairperson of its Executive Board, whose membership consists of representatives of IFAD Member States. The President serves a four-year term, renewable once.

More information on nomination and election procedures can been found on the IFAD website at: /asset?id=2109081.

Notes to Editors:

IFAD is an international financial institution and a specialized agency of the United Nations. It was established in 1977 as a partnership of the member states of the Organisation for Economic Co-operation and Development (OECD), the Organization of the Petroleum Exporting Countries (OPEC), and other developing countries. Its membership currently comprises 168 countries.

The first President of IFAD, Abdelmuhsin M. Al-Sudeary, from the Kingdom of Saudia Arabia, was appointed in 1977. In November 1984,  IFAD elected its second President, Idriss Jazairy from the People's Democratic Republic of Algeria. The third President, Fawzi Al-Sultan from the State of Kuwait, was appointed in January 1993 and Lennart Båge, from the Kingdom of Sweden, served as President of IFAD from 2001-2009. Kanayo F. Nwanze, from the Federal Republic of Nigeria, was elected in February 2009 and will complete his first term of office on 31 March 2013.

IFAD Member States decided to substantially increase the size of the target for the Fund's programme for the period of its Ninth Replenishment (2013-2015), which will enable the Fund to respond to an enormous need to increase the depth and breadth of support to smallholder agriculture, both to improve global food security and to reduce poverty.

Press release No.: IFAD/51/2012
The International Fund for Agricultural Development (IFAD) works with poor rural people to enable them to grow and sell more food, increase their incomes and determine the direction of their own lives. Since 1978, IFAD has invested almost US$14 billion in grants and low-interest loans to developing countries through projects empowering about 400 million people to break out of poverty, thereby helping to create vibrant rural communities. IFAD is an international financial institution and a specialized UN agency based in Rome – the United Nations' food and agriculture hub. It is a unique partnership of 168 members from the Organization of the Petroleum Exporting Countries (OPEC), other developing countries and the Organisation for Economic Co-operation and Development (OECD)