China renews US$10M funding to China-IFAD agricultural facility
CHINA – The International Fund for Agricultural Development (IFAD) has announced the renewal of a US$10 million contribution from China to its South-South and Triangular Cooperation (SSTC) Facility.
The renewal was signed on the sidelines of IFAD’s 48th Governing Council meeting, held in Rome yesterday, and marks a continuation of the collaboration between China and IFAD.
Launched in 2018, the China-SSTC Facility was initially funded with US$10 million from China, aiming to promote rural development through the exchange of knowledge and resources among Southern countries and organizations.
The Facility has already indirectly impacted over 100,000 people living in rural areas by facilitating the sharing of agricultural best practices between countries within the Global South.
The additional funding will further advance efforts to reduce rural poverty and enhance productivity across multiple regions, with a focus on agricultural development.
Alvaro Lario, President of IFAD, highlighted China’s role in lifting millions out of poverty, noting that the renewed contribution is a key step in spreading this knowledge to other countries.
Lario also stated that the financial support will help accelerate rural poverty reduction and strengthen small-scale farmers through access to knowledge and resources, calling it a strong endorsement of IFAD’s work.
Since its inception, the China-SSTC Facility has supported 20 projects across 40 countries in Africa, Asia, and the Pacific, as well as Latin America and the Caribbean.
As of the end of 2024, over 50,000 individuals have benefitted directly from these projects, with the ongoing support helping to spread sustainable farming practices and technological advancements.
Phase II of the Facility will focus on advancing the sharing of knowledge, technology, and resources among developing nations to improve food security, rural livelihoods, and resilience.
The next phase will also encourage innovative solutions aimed at enhancing the financial, marketing, and entrepreneurial capabilities of rural communities, specifically targeting small-scale farmers.
Additionally, the program will work to increase rural incomes through the promotion of inclusive business models and improve market linkages between developing countries.
The facility’s objectives align with global goals to end poverty and hunger, with a specific focus on achieving Sustainable Development Goals 1 (No Poverty) and 2 (Zero Hunger) by 2030.
Through these efforts, the China-SSTC Facility aims to make a lasting impact on agricultural systems and the livelihoods of rural populations worldwide.
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