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The United Nations General Assembly, Patrick Gomes, Secretary-General of the African, Caribbean and Pacific (ACP) Group of States and Gilbert Houngbo, President of the International Fund for Agricultural Development (IFAD) on the margins of the 73rd session signed a letter of intent to intensify collaboration between the two institutions.

The signing also aimed at and supporting the implementation of development goals in their common Member States.

Following the signing ceremony, Mr. Houngbo stated that “it is crucial that our synergies be strengthened, as we seek to ramp up efforts to eliminate hunger and poverty, while offering a sustainable future and an alternative to migration, to rural youth.”

Dr. Patrick Gomes declared that “today marks an important day for the ACP Group, as we sign this letter of intent with the IFAD, aimed at supporting women and youth, in particular, along the agricultural value chains. We believe that this collaboration between the two institutions will contribute to the goal of poverty reduction and promote sustainable and inclusive growth in ACP economies.”

The agreement will enable the two institutions to strengthen their synergies and complementarity, at a time when current global challenges, including the fight against hunger, migration, climate change, youth employment, and nutrition require a coordinated and heightened response.

IFAD and the ACP Group plan to intensify their collaboration in several areas of common interest, including joint financing, research, studies, and policy dialogue.

IFAD is already a partner of ACP governments, in the design and financing of rural and agricultural development programmes. Its loan and grant portfolio provides support for 106 ongoing projects in ACP countries, including 93 in Africa. In 2018, 18 new projects are expected to be launched, for a total amount of USD 466 million in loans. IFAD also supports innovation by financing specific projects, and is engaged in policy dialogue on countries’ agricultural and rural development issues.

The African, Caribbean and Pacific Group of States (ACP) is an organization created by the Georgetown Agreement in 1975. It is composed of 79 African, Caribbean and Pacific states, with all of them, save Cuba, signatories to the Cotonou Agreement, also known as the “ACP-EC Partnership Agreement”which binds them to the European Union. There are 48 countries from Sub-Saharan Africa, 16 from the Caribbean and 15 from the Pacific.

IFAD has invested in rural people for 40 years, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since 1978, we have provided US$20.4 billion in grants and low-interest loans to projects that have reached about 480 million people. IFAD is an international financial institution and a specialized United Nations agency based in Rome – the UN’s food and agriculture hub.

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