US$ 218.51 million
US$ 0 million
US$ 0.12 million
Kuwait played a major role in the establishment of IFAD in 1977 and has been a key supporter of the Fund for the past 40 years. Arab Gulf countries financed about 20 per cent of IFAD’s initial funding and its First and Second Replenishments and, as a result, Arab Gulf countries have a strong voice in IFAD’s governance. The Fund’s first three presidents were Arab nationals. Kuwait’s support to IFAD is critical to combat poverty and strengthen development in developing countries. While Gulf countries do not borrow, they have an interest in agricultural development around the Arab world and many of their financial institutions, such as the Kuwait Fund for Arab Economic Development, partner with IFAD as cofinanciers. IFAD serves as an instrument enabling Kuwait and other Gulf countries to channel resources to developing countries’ agriculture and as a global forum on agriculture and food security in which Gulf countries play a key role. Kuwait’s contribution to IFAD replenishments has often represented 1 per cent of IFAD’s replenishment targets.
Through the 2030 Agenda for Sustainable Development, the world has set ambitious objectives to end poverty and hunger and to overcome inequality in a sustainable manner by 2030. Achieving the 2030 Agenda will require a profound transformation of food systems, including the agriculture sector, as well as a transformation of rural economies, as recently highlighted in IFAD’s Rural Development Report 2016. IFAD is the only United Nations specialized agency and international financial institution focused exclusively on reducing poverty and food insecurity in rural areas through agriculture and rural development. Kuwait has always been an advocate of poverty eradication and this has been demonstrated by its assistance in resolving pressing emergency situations in many areas of the world.