New Delhi: The current challenges facing the world, including hunger, debt, inequality, and climate change, require a deep commitment to find solutions, IFAD President Alvaro Lario said during a press conference at the UN’s Summit of the Future in New York Friday.
“Global challenges such as hunger and poverty are realistic goals that can be overcome if we share the great wealth of resources available and work together to reverse growing inequalities,” said Lario.
According to Lario, there is a significant financing gap for rural areas, particularly for climate adaptation. At the same time, wealthy countries spend US$630 billion annually on subsidy policies that distort markets, undermine poor farmers, and damage the environment. IFAD is proposing redirecting these incentives to promote healthy, nutritious, and affordable food.
According to IFAD, the organisation has raised more than US$646 million since 2022 from pension funds and insurers interested in investing in sustainable development and climate adaptation. The Fund’s unique expertise in supporting small-scale producers, empowering them to reduce poverty, increase food security, improve nutrition, and strengthen resilience in rural areas, has made it possible to mobilise the necessary resources for a better future. By redirecting existing resources and investing in innovative financial solutions, IFAD is committed to playing its part in addressing the current challenges facing the world and ensuring a better future for all.
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