U.S. Treasury awards IFAD and AfDB for support of rural communities

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U.S. Treasury awards IFAD and AfDB for support of rural communities

Outstanding programme in Uganda recognized at awards ceremony

Rome, 26 July 2013 – The International Fund for Agricultural Development (IFAD) and the African Development Bank (AfDB) received the Development Impact Honors award from the United States Department of the Treasury for their contribution to strengthening and improving infrastructure and market access in rural communities in Uganda.

Donald Kaberuka, President of AfDB and Carlos Seré, Associate Vice-President, on behalf of IFAD President Kanayo F Nwanze, accepted the award from Jacob J. Lew, Secretary of the U.S. Treasury during an award ceremony in Washington D. C. Jim Yong Kim, President of the World Bank and Luis Alberto Moreno, President of the International Development Bank (IDB) among others, attended the ceremony.

IFAD and the AfDB have been working together in Uganda for more than 10 years with their first co-financed project reaching more than 300,000 rural households. The recognition they received is specifically for their support of the Community Agricultural Infrastructure Improvement Programme (CAIIP), which focuses on strengthening rural infrastructure such as roads, markets and agro-processing facilities. So far the programme has benefitted more than 5 million people and provided for.4,750 kilometres of new or repaired roads; 123 constructed agro-processing facilities; and 77 additional rural markets.

"This award strengthens our commitment to scaling up our successes in support of rural transformation," Seré said during the ceremony "It also renews our faith in agricultural investment as a key driver of poverty reduction and reminds us of the power of partnerships both with AfDB and others."

For sub-Saharan Africa, it has been estimated that growth generated by the agriculture sector is 11 times more effective in reducing poverty than growth in other sectors. "The work is not done, of course," Seré said adding that if smallholder farmers are given the tools they need, they can lift themselves out of poverty while making a major contribution to food security, for themselves and their community.

Press release No.: IFAD/34/2013

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 about US$14.9 billion in grants and low-interest loans to developing countries through projects empowering over 410 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 172 members from the Organization of the Petroleum Exporting Countries (OPEC), other developing countries and the Organisation for Economic Co-operation and Development (OECD).