Summary: September 28, 2004: Commission and IFAD strengthen collaboration to improve fight against poverty and promotion of rural development (Brussels)
The European Commission and the International Fund for Agricultural Development (IFAD) have signed a financial framework agreement to promote a closer cooperation between the two institutions in the fields of rural development and poverty reduction.
Commissioner for development and humanitarian aid Poul Nielson said : "Poverty alleviation through the promotion of sustainable development lies at the heart of the Commission's development policy. With its expertise and experience in rural development, IFAD is a valuable partner for our work." Vice-president of IFAD, Cyril Enweze added : "Global partnerships for development are the key to halving the proportion of people living in poverty by the year 2015."
The promotion of more efficient co-operation within the international community - as the new agreement between the EC and IFAD sets out to achieve - should enhance delivery of the Millennium Development Goals. The new framework of cooperation will be built on a long history of collaboration between the EC and IFAD. Since 1978, the two institutions have co-financed rural development projects in Africa, Asia, Central America and Eastern Europe, totaling more than USD 121 million.
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