International Fund for Agricultural Development (IFAD)

About International Fund for Agricultural Development (IFAD):

• IFAD is an international financial institution and a specialized United Nations agency.
• It invests in rural people, empowering them to improve their food security, nutrition, and incomes through funding of grants and low-interest loans to several projects.
• Founded in response to a global food crisis, since 1977, IFAD-supported projects have reached hundreds of millions of people around the world.
• IFAD works in areas where poverty and hunger are most prominent.
• It is the only specialized global development organisation exclusively focused on and dedicated to transforming agriculture, rural economies, and food systems. 
• IFAD grants support research, innovation, institutional change, and pro-poor technologies.
  • IFAD extends two types of grants, depending on the nature of the innovation and the scope of intervention: global or regional grants and country-specific grants.
• IFAD headquarters is located in Rome, Italy.
• It is a member of the United Nations Development Group.

Q1: What is the United Nations Development Group (UNDP)?

Established by the Secretary-General in 1997, the UN Development Group (UNDG) was set up to design system-wide guidance to coordinate, harmonize and align UN development activities. The purpose of UNDG was to strengthen the UN development system at the country level, preparing it to meet future challenges and ensuring that operations are conducted in accordance with mandates from UN governing bodies such as the General Assembly. In 2008, UNDG was incorporated as one of three pillars of the UN System Chief Executives Board for Coordination (CEB).

News: Odisha to secure ₹734.86-cr. loan from IFAD to uplift tribals