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Head of the MEF assumes the presidency of the Council of Governors of IFAD

Head of the MEF assumes the presidency of the Council of Governors of IFAD

The head of the Ministry of Economy and Finance (MEF), Oscar Graham Yamahuchi, assumed the presidency of the Council of Governors of the International Fund for Agricultural Development (FIDA), a United Nations agency that provides resources to improve agricultural productivity. The official will serve for two years.

Graham assumed this responsibility from today, by virtually presiding over the 45th period of sessions of the Council of Governors of the IFADmade in Rome, Italy.

IFAD is an agency of the United Nations whose main objective is to provide funds for programs that seek to promote the economic progress of the poor inhabitants and extremely poor in rural areas, improving agricultural productivity.

“Peru has been a founding member of IFAD since 1977 and has received loans, from 2004 to 2020, for an amount of US$111,800,000, to finance six development-oriented projects in areas of poverty and extreme poverty. Of these projects, four are completed and two are underway. In addition, Peru is preparing, with the support of IFAD, a new intervention charged to the new financing to materialize in 2023″, indicated the Minister of Economy and Finance, Oscar Graham.

The Governing Council is IFAD’s main decision-making body. It is made up of all IFAD member states and meets annually to make decisions on issues such as the approval of new members; the appointment of the president of IFAD; matters related to the permanent Headquarters of the Fund; the adoption of the general policies, criteria and regulations of said entity, among others.

The overarching theme of this year’s session is “Leveraging innovation and finance for an inclusive and climate-resilient recovery.” IFAD believes that making climate finance more accessible to smallholders can address food insecurity caused by climate change and build resilience while reducing greenhouse gases.

Peru’s participation in this international financial organization and, on this occasion, presiding over the IFAD Board of Governors, is in line with the strengthening of our relations with the international financial community, which grants resources to finance prioritized investments to progressively overcome the levels of poverty and extreme poverty that still exist in our country.

Personalities such as Gilbert F. Houngbo, President of IFAD; Iván Duque, president of Colombia; Daniel Franco, Minister of Economy and Finance of Italy; and HM Queen Máxima of the Netherlands.

Source: Larepublica

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