Peruvian
—a United Nations agency that provides resources to improve agricultural productivity.
According to the Ministry of Economy and Finance (MEF), the sector's head will hold the position for two years.
Agricultural productivity
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 poor and extremely poor inhabitants of rural areas, thus improving agricultural productivity.
"Peru has been a founding member since 1977 and has received loans, between 2004 and 2020, for an amount of US$111.8 million to finance six projects aimed at development in areas of poverty and extreme poverty," Graham indicated.
The government official specified that of these projects, four are completed and two are underway.
Besides, Peru is preparing —with the support of IFAD— a new intervention charged to the new financing to materialize in 2023.
Decision-making body
It is made up of all member states and meets annually to make decisions on issues such as the approval of new membership, appointment of the IFAD President, matters pertaining to the permanent seat of the Fund, approval of the administrative budget, as well as adoption of broad policies, criteria, and regulations.
The overarching theme of this year's session is "Leveraging innovations and finance for a climate resilient and inclusive 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.
Strengthening relationships
Peru's participation in this international financial organization and chairing the IFAD Governing Council is in line with the strengthening of our relations with the international financial community, which grants resources to finance prioritized investments in order to progressively overcome the levels of poverty and extreme poverty still existing in our country.
Today's event also saw the participation of: Gilbert F. Houngbo, President of the IFAD; H.M. Queen Maxima of the Netherlands, the United Nations Secretary-General's Special Advocate for Inclusive Finance for Development; Ivan Duque, President of Colombia; Andry Nirina Rajoelina, President of Madagascar; Aiyaz Sayed-Khaiyum, Acting Prime Minister of Fiji; and Daniele Franco, Minister for Economy-Finance of Italy.