New funds from United Nations to reduce poverty

The International Fund for Agricultural Development, and arm of the United Nations, has released new funds to help in anti-poverty efforts.

We found the announcement from an article in the Times of India.

In an effort to reduce rural poverty, a UN agency has approved a new funding of USD 258 million to improve the lives of impoverished
people in 16 developing countries.

The executive board of the UN international fund for agricultural development (IFAD) has approved more than USD 197.55 million in loans and USD 60.83 million in grants for such projects.

"The agreement of the executive board to this package will enable IFAD to continue to work closely with national governments and partners to help poor rural people in these 16 developing countries build better lives," said IFAD President Lennart Bege.

The rural poor, who are the most vulnerable to global problems like climate change and financial crisis, are at the centre of IFAD's work and "we are single-minded in our commitment to do more and serve them better. The board's support will allow us to do that," he added.

The largest portion of the newly-approved funds, over USD 100 million, will assist several African nations, including the strife-torn Democratic Republic of Congo (DRC), Swaziland and Kenya, to reduce poverty, improve food security and enhance living conditions.