Forthcoming election of the President of IFAD, 13-14 February 2013
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.
IFAD's goal is to enable poor rural people to improve their food and nutrition security, increase their incomes and strengthen their resilience. It provides concessional financing to developing countries and works directly with poor rural people, including poor women and indigenous peoples. It works in partnership with its Member States and multilateral and bilateral partners in the global effort to achieve global food and nutrition security and sustainable agriculture.
IFAD, like other international financial institutions, mobilizes core resources through periodic replenishments from its Member States and by mobilizing additional funding from other sources. To date, almost US$14 billion has been invested through IFAD-supported programmes, which have in turn attracted US$21 billion in cofinancing and funding from domestic sources. At the end of 2011, IFAD's portfolio consisted of 240 ongoing programmes and projects in 94 countries and territories, with a total IFAD financing of US$4.6 billion.
Under the direction of IFAD's governing bodies, the President of IFAD is responsible for conducting the business of the Fund and for organizing its work. The President is the chairperson of the Executive Board, whose membership consists of representatives of IFAD's Member States.
The President of IFAD has the same rank as the elected heads of other major United Nations specialized agencies. S/he is a Member of the United Nations Chief Executives Board, which is chaired by the UN Secretary-General, and which guides the coordination of the work of the UN system as a whole.
The President of IFAD is elected for four years with a two-term limit of eight years. The current President of IFAD is Dr Kanayo F. Nwanze, whose first term ends on 31 March 2013.
In accordance with the Agreement Establishing IFAD, the Governing Council of IFAD will be holding an election of the President at its forthcoming annual meeting on 13-14 February 2013. The elected President will take office on 1 April 2013.
Nominations of candidates for the President of IFAD are put forward by Member States of the Fund and must be received by the Secretary of IFAD no later than 15 December 2012.