By Mahdi Namir ROME, March 1 (KUNA) -- The International Fund for Agricultural Development (IFAD) highly praised the significant role played by Kuwait to enhance world food security.
Kuwait's role is pivotal in backing development and agriculture projects that aim to eradicate poverty and famine and to empower the marginalized communities in the world, IFAD's President Kanayo F. Nwanze said Sunday in an interview with KUNA, on the eve of his planned visit to the UAE to partake in the Gulf Forum to Enhance Food Security and Support Small and Medium Scale Farmers.
He pointed out that Kuwait greatly contributes to the IFAD's investment projects in developing countries to improve the condition of poverty-stricken communities and transform rural areas.
He also described the cooperation between the IFAD and Kuwait Fund for Arab Economic Development (KFAED) as extremely good. He spoke highly about Kuwait's generous initiative to help African countries.
His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah announced in 2013 that the KFAED will offer USD 1 billion in soft loan to finance development projects in African countries.
Nwanze urged the KFAED to increase its investments in disasters-hit countries such as Yemen, Somalia and Mauritania.
The IFAD, a specialized agency of the United Nations based in Rome, was established as an international financial institution in 1977 as one of the major outcomes of the 1974 World Food Conference. The conference was organized in response to the food crises of the early 1970s that primarily affected the Sahelian countries of Africa.
The IFAD invests in rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since it foundation, it has provided over USD 16.3 billion in grants and low-interest loans to projects that have reached about 438 million people. (end) mn.ibi