New IFAD fund launched to help prevent rural food crisis in wake of COVID-19

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With the COVID-19 pandemic and economic slowdown threatening the lives and livelihoods of the world’s most vulnerable people, the UN’s International Fund for Agricultural Development (IFAD) today committed US$40 million, and launched an urgent appeal for additional funds, to support farmers and rural communities to continue growing and selling food.
IFAD’s new multi-donor fund, the COVID-19 Rural Poor Stimulus Facility, will mitigate the effects of the pandemic on food production, market access and rural employment. As part of the broader UN socio-economic response framework, the Facility will ensure that farmers in the most vulnerable countries have timely access to inputs, information, markets and liquidity. On top of its own contribution, IFAD aims to raise at least $200 million more from Member States, foundations and the private sector.
“We need to act now to stop this health crisis transforming into a food crisis,” said Gilbert F. Houngbo, President of IFAD. “The fallout from COVID-19 may push rural families even deeper into poverty, hunger and desperation, which is a real threat to global prosperity and stability. With immediate action, we can provide rural people with the tools to adapt and ensure a quicker recovery, averting an even bigger humanitarian crisis.”