Membership of the Russian Federation in the International Fund for Agricultural Development (IFAD) will promote Russian expert and technological capabilities in the field of agricultural development and food security.
The draft federal law “On the Russian Federation’s Accession to the Agreement Establishing the International Fund for Agricultural Development” (hereinafter – the bill) has been developed in accordance with the instructions of the Russian Government.
The Agreement Establishing the International Fund for Agricultural Development (hereinafter – IFAD, the fund) was signed in Rome on 13 June 1976.
IFAD is the largest international institution involved in financing projects to reduce poverty among rural communities.
The fund’s operations are aimed at increasing agricultural production in countries with low-income and food deficits, as well as improving the quality of food and the overall living standards of the poorest social strata.
In addition to providing loans, IFAD provides technical support to countries in areas such as conducting the feasibility studies of projects, staff training and integrating staff into institutional structures, as well as the development and implementation of project monitoring.
The fund’s assets are comprised of contributions from member countries, income from investments, recovery of earlier loans, and co-financing on a bilateral and multilateral basis through multilateral development banks and national agencies to promote development.
The adoption of the bill will allow the full membership of the Russian Federation in the International Fund for Agricultural Development.
Membership of the Russian Federation in IFAD will promote Russian expert and technological capabilities in the field of agricultural development and food security.
The bill was discussed and approved at a meeting of the Government of the Russian Federation on 11 June 2014.
