Alvaro Lario, President of the International Fund for Agricultural Development (IFAD), and Liao Min, Vice Minister of Finance of the People’s Republic of China, renewed the country’s US$10 million contribution to the China-IFAD South-South and Triangular Cooperation (SSTC) Facility. The signing took place yesterday during IFAD’s 48th Governing Council meeting in Rome.
Launched in 2018 with an initial US$10 million contribution from China, the China-SSTC Facility – the first of its kind within IFAD – has leveraged South-South cooperation to drive rural development. Through knowledge-sharing and collaboration among Southern countries and organizations, the Facility has indirectly benefited over 100,000 people in rural areas by sharing best practices between Southern counterparts in countries and organizations. This latest funding reinforces China’s commitment to supporting SSTC within the UN system, particularly in agricultural development for the Global South; driving progress in poverty reduction, productivity, and rural transformation.
“China’s experience in lifting millions out of poverty offers valuable lessons for the world, and this generous contribution demonstrates its commitment to sharing that expertise with other nations,” said Lario. “This support will enable us to further accelerate progress in rural poverty reduction and empower small-scale farmers by sharing knowledge, resources, and best practices through our South-South and Triangular Cooperation facility. It’s a significant vote of confidence in IFAD’s mission and strengthens our partnership,” he added.
By the end of 2024, the Facility had supported 20 SSTC projects across 40 countries in Africa, Asia and the Pacific, and Latin America and the Caribbean, directly benefiting over 50,000 people.
With this new funding, the Facility’s Phase II will continue to advance SSTC efforts by promoting the exchange of knowledge, technology and resources among developing countries to reduce rural poverty, enhance food security, and increase the resilience and livelihoods of rural people. Through strategic grants, the Facility will promote innovative solutions to strengthen the productive, entrepreneurial, financial, and marketing capacities of rural populations and small-scale farmers; foster the adoption of inclusive production and business models that can raise rural people’s incomes, both in agriculture and in non-farm rural activities; and support investment and market linkages between developing countries. The Facility will also improve rural livelihoods and transform agri-food systems, contributing to the Sustainable Development Goals, particularly SDGs 1 (No Poverty) and 2 (Zero Hunger), by 2030
