The International Fund for Agricultural Development and the Kuwait Fund for Arab Economic Development signed a co-financing agreement to strengthen efforts to support small-scale farming and improve food security. The signing took place today in Riyadh during the sixteenth session of the Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification.
Under the agreement, the Kuwait Fund and IFAD will enhance their coordination and strengthen their collaborative framework to identify projects that are suitable for co-financing. They will also regularly review the progress of their work to reach more people and increase efficiency.
“Small-scale farmers are essential to global food security. Yet their work is consistently under-resourced, especially as they attempt to adapt to climate change and land degradation,” said Alvaro Lario, President of IFAD. “This renewed partnership between IFAD and the Kuwait Fund represents a renewed ambition for healthy rural economies, and for investments that safeguard food security – today and for the future.”
“The agreement signed today reflects the mutual alignment of the Kuwait Fund and IFAD as they continue to deepen and consolidate their partnership and commitment to enhancing the resilience of small-scale farmers in the face of food insecurity and climate change,” said Waleed Albahar, Acting Director General of the Kuwait Fund for Arab Economic Development.
“In collaborating, sharing expertise and innovative solutions with an unparalleled global leader such as IFAD, Kuwait Fund and IFAD come ever closer to realizing their shared vision of driving sustainable development, improving rural livelihood and enhancing climate resilience where it is needed most,” he added.
One notable example of strategic collaboration is the Family Farming Project in Guinea-Bissau (2019-2026). The project spans over four of the country’s poorest regions Bafatá, Cacheu, Gabú and Oio to support small-scale farmers’ access to markets, nutrition and climate resilience. The Kuwait Fund co-financed approximately US$14 million alongside IFAD, and other partners for a total project cost of US$ 65.77 million, entrusting IFAD with loan administration, procurement, and project supervision services.
Small-scale farmers produce one third of the world’s food and up to 70 per cent the food in many developing countries. They are essential to food security globally and in their own country. Yet, climate change and land degradation increasingly threaten their capacity to produce and maintain their livelihoods. Climate change is estimated to reduce crop yields by up to a quarter by the end of the century. About three billion people live in the rural areas of developing countries and rely to a large extend on small-scale farming for their food and livelihoods.
Kuwait and IFAD have shared a long-standing and robust partnership since 1978. Kuwait’s support to IFAD has been fundamental in combating poverty and strengthening development over the years. IFAD and Kuwait have worked together to promote food security and healthy nutrition by investing in climate-smart, adaptive and resilient agricultural practices.
The State of Kuwait pledged US$45 million to IFAD as part of the Thirteenth Replenishment of IFAD’s Resources (IFAD13) in December 2023, towards the next three year programme of work (2025-2027). This is an increase of 45 per cent compared to its pledge of US$31 million to the previous programming cycle covering the period from 2022 to 2024 (IFAD12). Cumulatively, Kuwait has contributed more than US$249 million to IFAD since its foundation in 1997.
For more information about IFAD and its work, visit: www.ifad.org
